Easun-MR Tap Changers Private Limited filed a petition under Section 8 & 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aditya Vidyut Appliances Limited. The petitioner alleged that the corporate debtor defaulted on 26.01.2017 in making payment of Rs. 4,32,70,548/- including interest. The petitioner is an Indo-German joint venture engaged in manufacturing 'On Load Tap Changers', its accessories and 'Nitrogen Injection Fire Prevention System'. The corporate debtor placed several purchase orders for supply of goods with the petitioner, and the petitioner supplied goods and raised invoices.
Easun-MR Tap Changers Private Limited (the Petitioner) filed a petition against Aditya Vidyut Appliances Limited (the Corporate Debtor) under Section 8 & 9 of the IBC, 2016, seeking to initiate CIRP. The Petitioner claimed that the Corporate Debtor defaulted on 26.01.2017 in making payment of Rs. 4,32,70,548/- including interest at 24% p.a. The Corporate Debtor had placed purchase orders with the Petitioner for the supply of goods, and the Petitioner had supplied the goods and raised invoices. After repeated requests and reminders, the Petitioner issued a demand notice on 27.06.2018 for Rs. 3,11,46,249.78/- under Section 8 of the Code. On 04.09.2018, the Corporate Debtor placed a new purchase order for Rs. 7,08,000/- and agreed to pay off past outstanding dues. The
…Sign in to view the parties.
Corporate Debtor…
Corporate D…
Easun-MR Tap Changers Private Limited filed a petition under Section 8 & 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aditya Vidyut Appliances Limited. The petitioner alleged that the corporate debtor defaulted on 26.01.2017 in making payment of Rs. 4,32,70,548/- including interest. The petitioner is an Indo-German joint venture engaged in manufacturing 'On Load Tap Changers', its accessories and 'Nitrogen Injection Fire Prevention System'. The corporate debtor placed several purchase orders for supply of goods with the petitioner, and the petitioner supplied goods and raised invoices.
Easun-MR Tap Changers Private Limited (the Petitioner) filed a petition against Aditya Vidyut Appliances Limited (the Corporate Debtor) under Section 8 & 9 of the IBC, 2016, seeking to initiate CIRP. The Petitioner claimed that the Corporate Debtor defaulted on 26.01.2017 in making payment of Rs. 4,32,70,548/- including interest at 24% p.a. The Corporate Debtor had placed purchase orders with the Petitioner for the supply of goods, and the Petitioner had supplied the goods and raised invoices. After repeated requests and reminders, the Petitioner issued a demand notice on 27.06.2018 for Rs. 3,11,46,249.78/- under Section 8 of the Code. On 04.09.2018, the Corporate Debtor placed a new purchase order for Rs. 7,08,000/- and agreed to pay off past outstanding dues. The
…Corporate Debtor…
Corporate D…