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IBC Petition Dismissed for Failing ₹1 Crore Threshold Due to Separate Entity Debt Allocation
Case Law Details
- Case Name
- Bhushan Power & Steel Limited Vs A.G. Pipes Private Limited (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Bhushan Power & Steel Limited Vs A.G. Pipes Private Limited (NCLAT Delhi)
An appeal was filed against the dismissal of a Section 9 Insolvency and Bankruptcy Code (IBC) petition concerning an alleged operational debt of approximately ₹1.49 crore arising from supply of steel products under various purchase orders and invoices. The appellant claimed that goods were supplied to the respondent’s units under different SAP codes, with outstanding dues of ₹1,42,02,230 and ₹7,02,527 respectively, and that demand notices issued in 2019 and 2021 were not satisfied despite acknowledgment of su...
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