This is an appeal against the final judgment dated 19.12.2019 of the National Company Law Appellate Tribunal (NCLAT), which dismissed the appeal preferred by Sabarmati Gas Limited against the order dated 27.06.2019 of the National Company Law Tribunal (NCLT), Ahmedabad Bench. The NCLT had dismissed the application filed by Sabarmati Gas Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), on the grounds of being barred by limitation and the existence of a pre-existing dispute between the parties. The dispute arises from a Gas Sales Agreement (GSA) between Sabarmati Gas Limited (appellant) and Shah Alloys Limited (respondent), where the appellant was obligated to supply natural gas. The respondent defaulted on payments, leading to the appellant
…Sabarmati Gas Limited (appellant) and Shah Alloys Limited (respondent) entered into a Gas Sales Agreement (GSA) on 2008-05-30, where the appellant was to supply natural gas to the respondent. The respondent defaulted on payments from November 2011. The respondent approached the Board for Industrial and Financial Reconstruction (BIFR) and was declared a 'sick company' on 2010-08-31. The appellant stopped gas supply on 2012-08-07. The appellant sought permission from BIFR to initiate proceedings against the respondent, which was disposed of on 2015-09-09. The Sick Industrial Companies Act (SICA) was repealed on 2016-12-01. The appellant issued a demand notice on 2017-04-01 under Section 8 of the IBC, demanding payment of Rs. 4,71,56,094.76. The respondent replied on
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Sabarmati Gas Limited…
Shah Alloys Lim…
This is an appeal against the final judgment dated 19.12.2019 of the National Company Law Appellate Tribunal (NCLAT), which dismissed the appeal preferred by Sabarmati Gas Limited against the order dated 27.06.2019 of the National Company Law Tribunal (NCLT), Ahmedabad Bench. The NCLT had dismissed the application filed by Sabarmati Gas Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), on the grounds of being barred by limitation and the existence of a pre-existing dispute between the parties. The dispute arises from a Gas Sales Agreement (GSA) between Sabarmati Gas Limited (appellant) and Shah Alloys Limited (respondent), where the appellant was obligated to supply natural gas. The respondent defaulted on payments, leading to the appellant
…Sabarmati Gas Limited (appellant) and Shah Alloys Limited (respondent) entered into a Gas Sales Agreement (GSA) on 2008-05-30, where the appellant was to supply natural gas to the respondent. The respondent defaulted on payments from November 2011. The respondent approached the Board for Industrial and Financial Reconstruction (BIFR) and was declared a 'sick company' on 2010-08-31. The appellant stopped gas supply on 2012-08-07. The appellant sought permission from BIFR to initiate proceedings against the respondent, which was disposed of on 2015-09-09. The Sick Industrial Companies Act (SICA) was repealed on 2016-12-01. The appellant issued a demand notice on 2017-04-01 under Section 8 of the IBC, demanding payment of Rs. 4,71,56,094.76. The respondent replied on
…Sabarmati Gas Limited…
Shah Alloys Lim…