In the matter of Welfare Infrastructure Private Limited Cp No. (Ib)- 28-9-JPR-2020
Case brief
What is this about?
The Adjudicating Authority admitted an application for initiating Corporate Insolvency Resolution Process (CIRP) against a corporate debtor. The court found an undisputed valid operational debt existed and rejected the debtor's claim of a pre-existing dispute due to lack of proof, thereby satisfying Section 9 requirements and appointing an Interim Resolution Professional.
What did the court decide?
Application admitted; Interim Resolution Professional Garima Diggiwal appointed; Moratorium invoked; Applicant directed to deposit Rs. 2,00,000.
1
IN THE NATIONAL COMPANY LAW TRIBUNAL JAIPUR BENCH
CORAM: SHRI DEEP CHANDRA JOSHI, HON’BLE JUDICIAL MEMBER
SHRI MANOJ KUMAR DUBEY, HON’BLE TECHNICAL MEMBER
CP No. (IB)- 28/9/JPR/2020
(Under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016)
IN THE MATTER OF:
INDOFIL INDUSTRIES LTD.
…Operational Creditor
Versus
WELFARE INFRASTRUCTURE PVT. LTD.
…Corporate Debtor
Issues for consideration
3 issues framed by the court
Whether there exists a valid operational debt between the parties which has become due and payable?
Whether there exists a dispute between the parties prior to the issuance of the demand notice under Section 8?
Whether the conditions under Section 9 of the Insolvency and Bankruptcy Code are satisfied to initiate the Corporate Insolvency Resolution Process?
Parties & counsel
- applicant
Indofil Industries Ltd.
- respondent
Welfare Infrastructure Pvt. Ltd.
Coram
Deep Chandra Joshi
Case details
As recorded by the court registry
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