In the matter of Kushal Polysacks Private Limited C.P. (Ib) No. 734-KB-2020
Case brief
What is this about?
The National Company Law Tribunal Kolkata Bench rejected a Corporate Insolvency Resolution Process petition filed by Mitcon Consultancy against Kushal Polysacks. The court held that a pre-existing dispute existed between the parties, citing a pending civil suit and contractual disagreements, thereby disentitling the petitioner to initiate CIRP under Section 9 of the Code.
What did the court decide?
The Corporate Insolvency Resolution Process petition is rejected in view of the existence of a pre-existing dispute.
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH(Court-II)
KOLKATA
C.P. (IB) No. 734/KB/2020
An application under Section 9 of the Insolvency & Bankruptcy Code, 2016.
In the matter of:
Mitcon Consultancy & Engineering Services Limited [CIN L74140PN1982PLC026933 ], having its registered office at Kubera Chambers, Shivaji Nagar, Pune – 411005;
….Operational Creditor
-Versus-
Kushal Polysacks Private Limited[CIN U21113WB1996PTC081714], having its registered office at 16, G.C. Avenue, Gandhi House, 6th Floor, Kolkata 700013;
…Corporate Debtor
Issues for consideration
2 issues framed by the court
Whether there was any pre-existing dispute between the parties before the filing of the petition under Section 9 of the Code?
Whether the Adjudicating Authority needs to investigate the merits at the stage of admission under Section 9 of the Code?
Parties & counsel
- appellant
Mitcon Consultancy & Engineering Services Limited
- respondent
Kushal Polysacks Private Limited
Coram
Bidisha Banerjee
Case details
As recorded by the court registry
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