The case involves an application filed by the Operational Creditor, M/s. Within, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Abu Estate Private Limited. The Operational Creditor claimed an outstanding debt of Rs. 9,17,392/- as of 19.05.2017, comprising principal and interest. The Corporate Debtor had placed three separate purchase orders for furnishing/refurbishing its hotel rooms. The Operational Creditor raised invoices for the work and materials, but two invoices remained unpaid. The Corporate Debtor issued four cheques totaling Rs. 4,00,000/- towards part
…M/s. Within, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Abu Estate Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 9,17,392/- as of 19.05.2017, comprising Rs. 5,80,630/- as principal and Rs. 3,36,762/- as interest. The debt arose from three purchase orders placed by the Corporate Debtor for furnishing/refurbishing its hotel rooms. The Operational Creditor raised invoices for the work and materials supplied. The Corporate Debtor issued four cheques totaling Rs. 4,00,000/- towards part payment, but these cheques were returned unpaid due to 'insufficient fund/stoppage of payments'.
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Counsels for the Operational Creditor and…
Counsel for the Corporate Debtor was present and…
The case involves an application filed by the Operational Creditor, M/s. Within, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Abu Estate Private Limited. The Operational Creditor claimed an outstanding debt of Rs. 9,17,392/- as of 19.05.2017, comprising principal and interest. The Corporate Debtor had placed three separate purchase orders for furnishing/refurbishing its hotel rooms. The Operational Creditor raised invoices for the work and materials, but two invoices remained unpaid. The Corporate Debtor issued four cheques totaling Rs. 4,00,000/- towards part
…M/s. Within, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Abu Estate Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 9,17,392/- as of 19.05.2017, comprising Rs. 5,80,630/- as principal and Rs. 3,36,762/- as interest. The debt arose from three purchase orders placed by the Corporate Debtor for furnishing/refurbishing its hotel rooms. The Operational Creditor raised invoices for the work and materials supplied. The Corporate Debtor issued four cheques totaling Rs. 4,00,000/- towards part payment, but these cheques were returned unpaid due to 'insufficient fund/stoppage of payments'.
…Counsels for the Operational Creditor and…
Counsel for the Corporate Debtor was present and…