Vedika Steels Private Limited (Operational Creditor) filed an application under Section 9 of the IBC, 2016, against Adarsh Global Trades & Services Pvt Ltd (Corporate Debtor) for a claim of Rs. 8,98,91,694. Notices were sent to the Corporate Debtor, who was later set as ex-parte. Vedika Steels only provided a Ledger A/c Statement from its own books as evidence. The Adjudicating Authority noted that Vedika Steels failed to provide invoices, purchase orders, or any acknowledgment of debt from Adarsh Global. A separate application (IA No. 323/2019) was pending, alleging fraudulent transactions involving both Vedika Steels and Adarsh Global.

Vedika Steels Private Limited (Operational Creditor) filed an application under Section 9 of the IBC, 2016, against Adarsh Global Trades & Services Pvt Ltd (Corporate Debtor) for a claim of Rs. 8,98,91,694. Notices were sent to the Corporate Debtor, who was later set as ex-parte. Vedika Steels only provided a Ledger A/c Statement from its own books as evidence. The Adjudicating Authority noted that Vedika Steels failed to provide invoices, purchase orders, or any acknowledgment of debt from Adarsh Global. A separate application (IA No. 323/2019) was pending, alleging fraudulent transactions involving both Vedika Steels and Adarsh Global.