In the matter of Metrostar Print Solutions Privat Limited C.P. No. 2660-IBC-MB-2019
Case brief
What is this about?
In a Section 9 petition to initiate CIRP, the CLB Bench held the petition liable to be rejected because the corporate debtor raised a pre-existing serious dispute regarding contract performance and payments prior to the issuance of the demand notice, rendering the petition spurious.
What did the court decide?
Company Petition bearing No. C.P. No. 2660/IBC/MB/2019 is rejected.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-I
C.P. No. 2660/IBC/MB/2019
(Under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rule 2016)
In the matter of
Fujifilm India Private Limited
(U24233DL2007PTC171054)
Address for Correspondence at: Business Centre Office No. 521, Level V, Caddie Commercial Tower, Hospitality District Aerocity IGI Airport, New Delhi-110037.
……Operational Creditor
Vs
Metrostar Print Solutions Private Limited
(U52396MH2011PTC215202)
Registered office at: C-120, Bonanza Industrial Estate, Ashok Chakravarty Road, Ashok Nagar, Kandivali East, Mumbai-400101, Maharashtra.
Issues for consideration
2 issues framed by the court
Whether a Company Petition under Section 9 of the Insolvency and Bankruptcy Code liable to be rejected when a pre-existing dispute regarding the operational debt was raised by the corporate debtor pri
Whether the adjudicating authority can decide the merits of the contractual dispute raised by the corporate debtor in a Section 9 petition.
Parties & counsel
- petitioner
Fujifilm India Private Limited
- respondent
Metrostar Print Solutions Private Limited
Coram
H.V. Subba Rao
Case details
As recorded by the court registry
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