Sarens Heavy Lifts India Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the IBC against Demac Technologies Private Limited (Corporate Debtor).

The operational debt claimed was Rs. 2,39,51,037.60, including interest, arising from the supply of goods/services.

The Corporate Debtor argued that the demand notice was invalid due to lack of proper authorization and that a pre-existing dispute existed.

The Operational Creditor contended that the demand notice was validly issued, and no pre-existing dispute existed.

The Corporate Debtor acknowledged its liability and issued a repayment plan, but failed to comply with it.

Sarens Heavy Lifts India Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the IBC against Demac Technologies Private Limited (Corporate Debtor).

The operational debt claimed was Rs. 2,39,51,037.60, including interest, arising from the supply of goods/services.

The Corporate Debtor argued that the demand notice was invalid due to lack of proper authorization and that a pre-existing dispute existed.

The Operational Creditor contended that the demand notice was validly issued, and no pre-existing dispute existed.

The Corporate Debtor acknowledged its liability and issued a repayment plan, but failed to comply with it.