Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 

Corporate Insolvency Resolution plea admitted when book distributor confirmed supply and outstanding dues: NCLT

December 22, 2018[2018] 100 taxmann.com 446 (NCLT - Mum.)
93 Views

IBC : Operational Creditor, apublishing house, supplied books ordered by Debtor distributor and raised valid invoice for same. Corporate Debtor acknowledged balance outstanding due. Only when demand Notice was issued, Corporate Debtor replied after expiry of 10 days, raising disputes that (a) supplies of goods were not in confirmation to order placed by authorised persons and (b) Corporate Debtor was not liable to pay for order placed by individuals other than authorised persons

Held, that defence taken by Corporate Debtor was not covered in pre-existing dispute in light of law laid down by Supreme Court in case of Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd. [2017] 85 taxmann.com 292/144 SCL 37. CIRP deserved to be admitted.

read more

taxmann.com
Payment
Best view in 1140 x 768