Closure of CIRP proceedings – Tejinder Pal Setia Vs. Kone Elevator India Pvt. Ltd. & Ors. – NCLAT New Delhi
Case Reference Case Citation : (2023) ibclaw.in 553 NCLAT Case Name : Tejinder Pal Setia Vs. Kone Elevator India Pvt. […]
Case Reference Case Citation : (2023) ibclaw.in 553 NCLAT Case Name : Tejinder Pal Setia Vs. Kone Elevator India Pvt. […]
NCLAT held that the Operational Creditor is at liberty to submit Demand Notice either in Form-3 or Form-4. When Notice is issued in Form-4, copy of the Invoice is required to be attached with the Notice. The Demand Notice issued by the Operational Creditor was in Form-3, hence, no infirmity can be found in the Demand Notice, if invoices were not attached. In the present case, the basis of the Demand Notice was Supply Agreement and acknowledgement letter issued by the Corporate Debtor. No invoices were referred to in the Demand Notice. Hence, submission of the Appellant that Demand Notice should have been accompanied with the invoices cannot be accepted.