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Limitation provision applicable for initiation of CIRP in spite of initiation of winding up proceeding
Case Law Details
- Case Name
- Tech Sharp Engineers Pvt. Ltd. Vs Sanghvi Movers Limited (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Tech Sharp Engineers Pvt. Ltd. Vs Sanghvi Movers Limited (Supreme Court of India)
Held that the initiation of winding up proceedings in Madras High Court would not save limitation for initiation of proceedings for initiation of CIRP in the NCLT under Section 7 of the IBC.
Facts-
The Respondent/Operational Creditor raised invoices on the Appellant between 3rd January 2012 and 4th March 2013 for a sum of Rs.38,84,709/-. Due to non-payment, ultimately, on 14th October 2013, the Respondent issued a statutory notice to the Appellant under Sections 433(e), 434 and 439 of the Compani...
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