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Maintainability of proceedings under the IBC in case of non-compliance with the provisions of the Code

October 9, 2019[2019] 110 taxmann.com 49 (Article)
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RAMCO Systems Ltd. recently initiated legal proceedings against SPICEJET Ltd. before the NCLT Bench at Delhi, being the place where the registered office of the Corporate Debtor is located. Whereas RAMCO filed the application with a demand for a debt amounting to a sum of Rs. 2,99,32,640/- along with interest @ 18% p.a., the Corporate Debtor contended that there were unpardonable discrepancies in the demands and the Demand Notice received by it from the Operational Creditor.
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