Application filed u/s 9 of the Insolvency and Bankruptcy Code, ...

Steel fabrication debt dispute: Creditor's plea rejected for lack of evidence on debt acknowledgment post 2013.

Case Laws IBC

September 21, 2024

Application filed u/s 9 of the Insolvency and Bankruptcy Code, 2016 regarding default in fabrication and erection of steel structure at the Corporate Debtor's plant in Meghalaya. Respondents filed requisite documents on 03.12.2020 as per order dated 25.10.2019. Appellant failed to identify any document showing acknowledgement of debt by Corporate Debtor after 2013, despite multiple opportunities. Appellant unable to point out any entry in trial balance, balance sheet or other documents serving as acknowledgement of debt and extending limitation period. Appeal dismissed by NCLAT for reasons stated in order dated 25.11.2022.

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Application filed u/s 9 of the Insolvency and Bankruptcy Code, ...

Steel fabrication debt dispute: Creditor's plea rejected for lack of evidence on debt acknowledgment post 2013.

Case Laws IBC

September 21, 2024

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