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IBC: Financial debts from different work order to be clubbed to evaluate minimum threshold limit
Case Law Details
- Case Name
- Wam India Private Limited Vs SN Engineering Services Pvt. Ltd (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Wam India Private Limited Vs SN Engineering Services Pvt. Ltd (NCLT Mumbai)
NCLT Mumbai while dealing with Company Petition filed u/s. 9 of the Insolvency & Bankruptcy Code, 2016 held that debts arising from different work order(s) can be clubbed to satisfy the minimum threshold limit.
Facts- This is a Company Petition filed u/s. 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) WAM INDIA PRIVATE LIMITED, (“the Operational Creditor”), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against SN ENGINEERING SERVICES PVT. LTD, (“the Corporate Debtor”).
The Oper...
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