BMS Tradewings Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Agron India Limited, the corporate debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The application was based on a default of ₹46,58,567/- including interest. BMS Tradewings supplied steam coal and other types of coal to Agron India as per purchase orders, with invoices for materials supplied from December 2012 to July 2013. Despite receiving the goods, Agron India failed to pay the due amount. Agron India acknowledged its liability in an email dated 14.10.2013 and issued post-dated cheques (PDCs). Some payments were made, but some PDCs were dishonored. A criminal complaint was filed
…BMS Tradewings Private Limited (Operational Creditor) supplied steam coal and other types of coal to Agron India Limited (Corporate Debtor) between December 2012 and July 2013 based on purchase orders. Agron India failed to pay ₹46,58,567/-, including interest at 12% p.a. Agron India acknowledged the debt in an email dated 2013-10-14, confirming accounts for the financial year 2013-2014, admitting a liability of ₹52,62,897/-. Agron India issued two Post Dated Cheques (PDCs) of ₹20,00,000/- and ₹20,29,652/- on 2014-04-10. Agron India made a payment of ₹3,00,000/- and replaced the PDC of ₹20,00,000/- with two new PDCs of ₹15,00,000/- and ₹2,00,000/-. The new PDCs were dishonored. BMS Tradewings filed a criminal complaint (C.C. No. 10985/2015) under Section 138 of the
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BMS Tradewings supplied steam coal and other…
BMS Tradewings supplied steam coal and other…
BMS Tradewings Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Agron India Limited, the corporate debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The application was based on a default of ₹46,58,567/- including interest. BMS Tradewings supplied steam coal and other types of coal to Agron India as per purchase orders, with invoices for materials supplied from December 2012 to July 2013. Despite receiving the goods, Agron India failed to pay the due amount. Agron India acknowledged its liability in an email dated 14.10.2013 and issued post-dated cheques (PDCs). Some payments were made, but some PDCs were dishonored. A criminal complaint was filed
…BMS Tradewings Private Limited (Operational Creditor) supplied steam coal and other types of coal to Agron India Limited (Corporate Debtor) between December 2012 and July 2013 based on purchase orders. Agron India failed to pay ₹46,58,567/-, including interest at 12% p.a. Agron India acknowledged the debt in an email dated 2013-10-14, confirming accounts for the financial year 2013-2014, admitting a liability of ₹52,62,897/-. Agron India issued two Post Dated Cheques (PDCs) of ₹20,00,000/- and ₹20,29,652/- on 2014-04-10. Agron India made a payment of ₹3,00,000/- and replaced the PDC of ₹20,00,000/- with two new PDCs of ₹15,00,000/- and ₹2,00,000/-. The new PDCs were dishonored. BMS Tradewings filed a criminal complaint (C.C. No. 10985/2015) under Section 138 of the
…BMS Tradewings supplied steam coal and other…
BMS Tradewings supplied steam coal and other…