Detention Charges Come Within The Purview Of Operational Debt: NCLT Mumbai
7 months, 1 week ago

Detention Charges Come Within The Purview Of Operational Debt: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising Ms. Reeta Kohli, and Madhu Sinha, while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 in ABC India Ltd. vs Prabhakar Engineers Pvt. In a joint meeting between Operational Creditor, Corporate Debtor and Indian Oil Corporation, it was agreed that the Corporate Debtor would pay detention charges to the Operational Creditor and the Corporate Debtor would be reimbursed by Indian Oil Corporation. The Operational Creditor requested the Corporate Debtor to pay detention charges by way of multiple emails. It was further contended that there was no contract between the Operational Creditor and Corporate Debtor whereby the Corporate Debtor had agreed to pay detention charges. It was also observed that there was an express agreement between the three parties wherein the Corporate Debtor agreed to pay detention charges and then avail its reimbursement from Indian Oil Corporation.

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History of this topic

Breach Of Settlement Agreement Not 'Operational Debt' Under Section 5(21) Of IBC: NCLT Kolkata
6 months, 1 week ago

Breach Of Settlement Agreement Not 'Operational Debt' Under Section 5(21) Of IBC: NCLT Kolkata

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TheNational Company Law Tribunal Kolkata bench of D. Arvind and Bidisha Banerjee has held that the breach of settlement agreement between the operational creditor and corporate debtor does not fall within the ambit of “Operational Debt” as per Section 5 of the IBC. However, the Petitioner claimed that after the first instalment was paid, the Corporate Debtor failed to make …

Poaching Of Employees By The Operational Creditor Does Not Fall Within The Ambit Of Pre-Existing Dispute: NCLT Kolkata
1 year, 8 months ago

Poaching Of Employees By The Operational Creditor Does Not Fall Within The Ambit Of Pre-Existing Dispute: NCLT Kolkata

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising Shri Rohit Kapoor and Shri Balraj Joshi, while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 in India Medtronic Private Limited vs Healthcare Associates Private Limited has refused to term poaching of employees by the Operational Creditor as a pre-existing dispute. Background Facts India Medtronic Private limited and …

Claim Arising Out Of Partnership Business Which Is Not A Mere Claim Of Supply Of Material Is Not An “Operational Debt”: NCLT Mumbai
1 year, 8 months ago

Claim Arising Out Of Partnership Business Which Is Not A Mere Claim Of Supply Of Material Is Not An “Operational Debt”: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising Shri H.V. Subba Rao and Shri Madhu Sinha, while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 in Manoj Stone Infra Private Limited vs Railsys Engineers Private Limited has held that a claim arising out of a mutual business understanding of partnership business, which is not a mere …

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