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NATIONAL COMPANY LAW TRIBUNAL
HARNAM SINGH THAKUR, L.N. GUPTA, JJ
Duke Fabrics (India) – Appellant
Versus
Sadan Hosiery Private Limited – Respondent
| Table of Content |
|---|
| 1. corporate debtor filed an application to present evidence concerning communications. (Para 1 , 2 , 3) |
| 2. operational creditor alleges unpaid debt, while corporate debtor asserts disputes over quality. (Para 4 , 5 , 6) |
| 3. court examines the necessity of establishing pre-existing disputes in rejecting insolvency applications. (Para 10 , 11) |
JUDGMENT in C.P. (IB) No. 81/Chd/Pb/2023
2. The present petition is filed by Duke Fabrics (India) Limited (for brevity, “Operational Creditor”) under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Sadan Hosiery Private Limited (for brevity, “Corporate Debtor”) seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, on account of default in pa yment of the Operational Debt.
3. It is averred that:
3.1.The Operational Creditor is a company registered under the provisions of the Company Act, 1956, and is engaged in the business of manufacturing, processing, dyeing, and finishing of knitted cloth and yarn.
3.2. The Corporate Debtor is a company incorporated under the Companies Act, 1956, and is engaged in the business of manufacturing knitted clothes.
3.3. The Operational Creditor had supp
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