9911796707
TMI Blog2019 (8) TMI 1698X X X X Extracts X X X X X X X X Extracts X X X X ..... 60(1) of the I B Code - the National Company Law Tribunal, Mumbai Bench has the jurisdiction to entertain an application under Section 9 of the I B Code and the Appellant cannot derive advantage of the terms of the Agreement reached between the parties. Service of Demand Notice - HELD THAT:- Corporate Debtor was not served with the Demand Notice in terms of Section 8(1) of the I B Code. However, from the record it is found that Demand Notice under Section 8(1) of the I B Code was issued by the Respondent - Operational Creditor on 6th March, 2018 demanding the repayment of US $971,412.98 plus ancillary obligations @ 15 % p.a. amounting to US $286.804.44 and despite receiving of the said Demand Notice, the Corporate Debtor had not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the paper book and the Cover Page in course of the day. 2. The Respondent Benteler Trading International GMBH, a German Company ( Operational Creditor ) filed application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short the I B Code ) against Excel Metal Processors Private Limited ( Corporate Debtor ) alleging that the Corporate Debtor committed default on 27th March, 2016 in making the payment to an extent of US $1,258,219.42 inclusive of interest @ 15% per annum. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench by impugned order dated 25th June, 2019 having admitted the application, the Appellant Imran Iqbal Khan, Director has challenged the said order. Learned Counsel appearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and vested the power on respective National Company Law Tribunals to deal with the matter within its territory, where the registered Offices of the Companies are situated. As per Section 60(1) of the I B Code, The Adjudicating Authority, in relation to insolvency resolution and liquidation for corporate persons including corporate debtors and personal guarantors thereof shall be the National Company Law Tribunal having territorial jurisdiction over the place where the registered office of the corporate person is located . As admittedly, the Registered Office of the Corporate Debtor namely Excel Metal Processors Private Limited is situated at 132, B, Mittal Towers Nariman Point, Mumbai-400021, we hold that the National Company Law Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
