An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Anil Sharma, proprietor of M/s Lakshmi Steels, to initiate the Corporate Insolvency Resolution Process (CIRP) against Aaradhyam Developers Private Limited. The applicant claimed that the corporate debtor defaulted on payments for TMT bars supplied for its housing project. The applicant stated that despite supplying goods worth Rs. 21,64,942/-, a balance of Rs. 4,01,970/- remained unpaid. A post-dated cheque issued by the corporate debtor was dishonored due to insufficient funds. A demand notice was served, but the corporate debtor failed to pay the outstanding dues.
Anil Sharma, proprietor of M/s Lakshmi Steels, supplied TMT bars to Aaradhyam Developers Private Limited for its housing project in 2018. The total value of the supplied goods was Rs. 21,64,942/-. The corporate debtor made a partial payment of Rs. 17,62,972/-, leaving a balance of Rs. 4,01,970/- outstanding. A post-dated cheque for Rs. 5,20,000/- issued by the corporate debtor was dishonored due to insufficient funds. The applicant served a demand notice dated 01.02.2020, demanding the outstanding dues along with interest at 24% per annum. The notice sent to the registered office and site office of the corporate debtor was returned with the remark "Door closed," but the email service was complete. The date of default was 12.09.2019, and the application was
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Corporate debtor approached the applicant for…
Applicant supplied goods worth Rs. 21,64,942/-…
An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Anil Sharma, proprietor of M/s Lakshmi Steels, to initiate the Corporate Insolvency Resolution Process (CIRP) against Aaradhyam Developers Private Limited. The applicant claimed that the corporate debtor defaulted on payments for TMT bars supplied for its housing project. The applicant stated that despite supplying goods worth Rs. 21,64,942/-, a balance of Rs. 4,01,970/- remained unpaid. A post-dated cheque issued by the corporate debtor was dishonored due to insufficient funds. A demand notice was served, but the corporate debtor failed to pay the outstanding dues.
Anil Sharma, proprietor of M/s Lakshmi Steels, supplied TMT bars to Aaradhyam Developers Private Limited for its housing project in 2018. The total value of the supplied goods was Rs. 21,64,942/-. The corporate debtor made a partial payment of Rs. 17,62,972/-, leaving a balance of Rs. 4,01,970/- outstanding. A post-dated cheque for Rs. 5,20,000/- issued by the corporate debtor was dishonored due to insufficient funds. The applicant served a demand notice dated 01.02.2020, demanding the outstanding dues along with interest at 24% per annum. The notice sent to the registered office and site office of the corporate debtor was returned with the remark "Door closed," but the email service was complete. The date of default was 12.09.2019, and the application was
…Corporate debtor approached the applicant for…
Applicant supplied goods worth Rs. 21,64,942/-…