Paramjeet Singh Vs. Maxim Tubes Company Pvt. Ltd. [Company Appeal (AT) (Insolvency) No. 150 of 2017] - Synopsis
Team SoOLEGAL 18 Feb 2021

In this case, Paramjeet Singh Vs. Maxim Tubes Company Pvt. Ltd. [Company Appeal (AT) (Insolvency) No. 150 of 2017], the appellant Paramjeet Singh had challenged the order of the Adjudicating Authority, Special Bench, New Delhi in which the Bench had accepted the application which was preferred by the respondent company under Section 9 of Insolvency Bankruptcy Code, 2016, and an order of moratorium had been passed and Interim Resolution Professional was admitted. Learned Lawyer appearing on behalf of the appellant had stated that, there is an existence of dispute and had shown letters in support of his claims. However, the plea put forward by the appellant had been objected to by the learned counsel for the respondent. The respondent company had stated that, the letters which the appellant had shown were false in nature hence, the appellant is liable for punishment.
The NCLAT was of the view that the operational creditor had given a notice to the Corporate Debtor pursuant to sub section (1) of Section 8 of the Insolvency Bankruptcy Code, 2016. Despite receipt of such notice, the Corporate Debtor did not dispute the claim or file a reply under sub section (2) of Section 8 of the Code within a period of ten days. It was in the circumstances referred to above that the application under Section 9 was filed in Form 5, in which it was clearly stated that the Corporate Debtor had not filed an objection under Section 8(2). In the absence any specific evidence, the Bench had found no reason to interfere with the order of the Adjudicating Authority and hence, dismissed the application.


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