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NCLT Admits CIRP as No Genuine Pre-Existing Dispute Was Established
Case Law Details
- Case Name
- Arjun Saikumar Vs Danalakshmi Paper Mills Private Limited (NCLT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Arjun Saikumar Vs Danalakshmi Paper Mills Private Limited (NCLT Chennai)
The National Company Law Tribunal (NCLT), Chennai Bench, admitted a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by an operational creditor seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against a paper manufacturing company over an operational debt of ₹1,25,95,497, comprising a principal amount of ₹89,78,530 and interest of ₹36,16,967. The operational creditor, engaged in the business of trading coal products, contended that it had suppl...
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