The appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) that reversed the order of 'Admission' passed by the National Company Law Tribunal (NCLT). The NCLAT held that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was barred by limitation. The operational creditor filed the present appeal against this decision.
SVG Fashions Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code against M/S Arpita Filaments Private Limited, the corporate debtor, claiming that the corporate debtor had business dealings with them since 2013, sold and delivered various fabrics, and was irregular in making payments. The operational creditor issued a demand notice under Section 8 of the Code, which did not receive any response. Before the NCLT, the corporate debtor raised objections, including that the claim was barred by limitation. The NCLT overruled these objections based on a letter dated 28.09.2015, acknowledging liability. The NCLAT reversed the NCLT's decision, holding that the debt arose between 11.08.2013 and 02.09.2013, and the
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The debt arose during…
The debt arose during…
The appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) that reversed the order of 'Admission' passed by the National Company Law Tribunal (NCLT). The NCLAT held that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was barred by limitation. The operational creditor filed the present appeal against this decision.
SVG Fashions Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code against M/S Arpita Filaments Private Limited, the corporate debtor, claiming that the corporate debtor had business dealings with them since 2013, sold and delivered various fabrics, and was irregular in making payments. The operational creditor issued a demand notice under Section 8 of the Code, which did not receive any response. Before the NCLT, the corporate debtor raised objections, including that the claim was barred by limitation. The NCLT overruled these objections based on a letter dated 28.09.2015, acknowledging liability. The NCLAT reversed the NCLT's decision, holding that the debt arose between 11.08.2013 and 02.09.2013, and the
…The debt arose during…
The debt arose during…