Naksh Steel Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gujarat Toolroom Limited (Corporate Debtor) for a default of Rs. 26,20,56,668/-. The default arose from unpaid invoices for goods supplied under a Supply Agreement dated 16.12.2024, with the default date reckoned as 20.01.2025. A demand notice was issued on 20.01.2026. The Corporate Debtor acknowledged the debt and expressed willingness to pay but attributed the non-payment to temporary liquidity constraints.
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Naksh Steel Limited (Operational Creditor) against Gujarat Toolroom Limited (Corporate Debtor).
The default amount claimed is Rs. 26,20,56,668/-.
The date of default is reckoned as 20.01.2025.
Naksh Steel Limited is engaged in steel manufacturing, trading of building materials, and supply of infrastructure and building products.
The Applicant supplied various products to the Corporate Debtor pursuant to a Supply Agreement dated 16.12.2024.
Supplies were effected during the period from 16.01.2025 to 20.01.2025, and corresponding invoices were raised.
A demand notice under Section 8 of the IBC, in Form-3 and Form-4, was issued on 20.01.2026.
…Sign in to view the parties.
Gujarat Toolroom Pvt.…
The name of Gujarat…
Naksh Steel Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gujarat Toolroom Limited (Corporate Debtor) for a default of Rs. 26,20,56,668/-. The default arose from unpaid invoices for goods supplied under a Supply Agreement dated 16.12.2024, with the default date reckoned as 20.01.2025. A demand notice was issued on 20.01.2026. The Corporate Debtor acknowledged the debt and expressed willingness to pay but attributed the non-payment to temporary liquidity constraints.
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Naksh Steel Limited (Operational Creditor) against Gujarat Toolroom Limited (Corporate Debtor).
The default amount claimed is Rs. 26,20,56,668/-.
The date of default is reckoned as 20.01.2025.
Naksh Steel Limited is engaged in steel manufacturing, trading of building materials, and supply of infrastructure and building products.
The Applicant supplied various products to the Corporate Debtor pursuant to a Supply Agreement dated 16.12.2024.
Supplies were effected during the period from 16.01.2025 to 20.01.2025, and corresponding invoices were raised.
A demand notice under Section 8 of the IBC, in Form-3 and Form-4, was issued on 20.01.2026.
…Gujarat Toolroom Pvt.…
The name of Gujarat…