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 debt arose from supplies made by Naksh Steel Limited to Gujarat Toolroom Limited between 16.01.2025 and 20.01.2025, under a supply agreement dated 16.12.2024. A demand notice was issued on 20.01.2026, but the Corporate Debtor failed to make payment, citing temporary liquidity constraints, despite acknowledging the debt and expressing willingness to pay.
Naksh Steel Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
The application was filed against Gujarat Toolroom Limited (Corporate Debtor) for a default of an amount of Rs. 26,20,56,668/-.
The default had occurred on and from 20.01.2025.
Naksh Steel Limited was earlier incorporated as a private limited company and subsequently converted into a public limited company under the Companies Act, 2013, which conversion was intimated to the Corporate Debtor vide letter dated 19.01.2025.
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Gujarat Toolroom Pvt. Ltd. (later Gujarat…
The name of Pirnmatic…
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 debt arose from supplies made by Naksh Steel Limited to Gujarat Toolroom Limited between 16.01.2025 and 20.01.2025, under a supply agreement dated 16.12.2024. A demand notice was issued on 20.01.2026, but the Corporate Debtor failed to make payment, citing temporary liquidity constraints, despite acknowledging the debt and expressing willingness to pay.
Naksh Steel Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
The application was filed against Gujarat Toolroom Limited (Corporate Debtor) for a default of an amount of Rs. 26,20,56,668/-.
The default had occurred on and from 20.01.2025.
Naksh Steel Limited was earlier incorporated as a private limited company and subsequently converted into a public limited company under the Companies Act, 2013, which conversion was intimated to the Corporate Debtor vide letter dated 19.01.2025.
…Gujarat Toolroom Pvt. Ltd. (later Gujarat…
The name of Pirnmatic…