In the matter of Pme lnfratech Private Limited Ia 967-2023 in C.P. (Ib) No. 931-MB-2020
Case brief
What is this about?
The National Company Law Tribunal examined an application for initiating Corporate Insolvency Resolution Process against a corporate debtor. The court held that the debt was due and payable, rejected the claim of a pre-existing dispute as unsupported by evidence, and ruled that MSME Council proceedings do not bar Section 9 proceedings. The petition was admitted.
What did the court decide?
The petition for initiating CIRP under Section 9 of the IBC against PME lnfratech Private Limited is admitted.
IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH-IV
IA 967/2023 IN C.P. (IB) No. 931/MB/2020
Under Section 9 of the I&B Code, 2016 In the matter of:
Melange Systems Private Limited
[CIN: U72200KA2000PTC027922]
…Operational Creditor/Applicant
V/s
PME lnfratech Private Limited. [CIN: U32100MH1987PTC045671]
...Corporate Debtor/Respondent
Order Dated:09.05.2023.
Coram: Mr. Prabhat Kumar Mr. Kishore Vemulapalli Hon’ble Member (Technical) Hon’ble Member (Judicial) Appearances (via videoconferencing): C.P. (IB) No. 931/MB/2020 For the Petitioner(s) : Mr. Shyam Kapadia, Ld. Counsel For the Respondent(s) : Mr. Rohit Gupta, Ld. Counsel. IA 967/MB/2023 For the Petitioner(s) : Ms. Namrata Sadhnani, Ld. Counsel For the Respondent(s) : Mr. Shyam Kapadia, Ld. Counsel.
Issues for consideration
3 issues framed by the court
Whether an operational debt exists where the debtor claims payment was contingent on receiving sums from a third party.
Whether a pre-existing dispute bars the initiation of Corporate Insolvency Resolution Process under Section 9 of the IBC.
Whether the MSME Act filing precludes concurrent proceedings under the Insolvency and Bankruptcy Code.
Parties & counsel
- applicant
Melange Systems Private Limited
- respondent
PME lnfratech Private Limited
Coram
Prabhat Kumar
Case details
As recorded by the court registry
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