Shivani Gadhavi
Published On: February 03, 2022 at 17:29 IST
The Indian service provider company Future Supply Chain Solutions is being dragged by Germany based logistics company DHL to the National Company Law Tribunal. The German company has Alleged that Future Group owes it INR 7.26 Crore for the services that the Future Group availed from DHL.
The German company claimed that the Future Group did not pay DHL for the services it had availed. DHL also requested that Insolvency Proceedings should be taken up against the Kishore-Biyani Group.
The National Company Law Tribunal (NCLT) was hearing a Petition filed by the Counsel for DHL, Advocate Kunal Bhanage. The Advocate filed the Petition under Section 9 of the Insolvency and Bankruptcy Code (IBC). Section 9 of the IBC provides operational creditors of companies, the right to initiate Insolvency Proceedings for outstanding Commercial Claims.
The Counsel for the Petitioner, Kunal Bhanage, submitted that the Future Group have unpaid dues towards the services provided by the clients of DHL to them. The services provided by the client of DHL are regarding the movement of goods and products from the warehouses and storage facilities of Future Supply Chain Solutions to other places located in India.
A Spokesperson of the Future Group stated that the company was “regularly taking transportation services from M/s DHL but due to onset of the pandemic during the first wave, we could not pay on time and hence they stopped the services in March 2020. We had several rounds of discussions with their top management and based on the understanding with them, we started making regular payments to them from October 2021 onwards”.
The National Company Law Tribunal (NCLT) in light of all the above-mentioned facts decided to keep the date of next hearing on March 9, 2022.