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Case Law Details

Case Name : Kailash Motilal Kakrania Vs Apurva Oil and Industries Private Limited (NCLAT Delhi)
Appeal Number : Company Appeal (AT) (Insolvency) No. 1257 of 2023
Date of Judgement/Order : 15/10/2024
Related Assessment Year :
Courts : NCLAT
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Kailash Motilal Kakrania Vs Apurva Oil and Industries Private Limited (NCLAT Delhi)

NCLAT Delhi held that there is no provision under the Insolvency and Bankruptcy Code which allows set of/adjustment/ counter claim against financial debt for calculating threshold limit prescribed under section 4 of the Code.

Facts- Mr. Kailash Motilal Kakrania and his wife Mrs. Manju Kailash Kakrania, collectively referred as Appellants hereinafter had filed a petition u/s. 7 of the Code on 04.09.2021 against Apurva Oil and Industries Private Limited (corporate debtor). Mr.

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