The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Sun Extrusions against Air Master Equipments India Pvt. Ltd. The Operational Creditor, Sun Extrusions, sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Air Master Equipments India Pvt. Ltd., due to a default in payment of debt.
Sun Extrusions, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Air Master Equipments India Pvt. Ltd., the Corporate Debtor. The application was filed due to a default in payment of debt by the Corporate Debtor. A previous order dated 06.11.2019 had granted a final opportunity to the Corporate Debtor to remit Rs. 2.5 lakhs. The Corporate Debtor failed to comply with this order. The Operational Creditor did not name an Insolvency Resolution Professional. The debt amount was Rs. 2.5 lakhs.
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CP/1439/IB/2018 filed under Section 9 of the…
A last opportunity was…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Sun Extrusions against Air Master Equipments India Pvt. Ltd. The Operational Creditor, Sun Extrusions, sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Air Master Equipments India Pvt. Ltd., due to a default in payment of debt.
Sun Extrusions, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Air Master Equipments India Pvt. Ltd., the Corporate Debtor. The application was filed due to a default in payment of debt by the Corporate Debtor. A previous order dated 06.11.2019 had granted a final opportunity to the Corporate Debtor to remit Rs. 2.5 lakhs. The Corporate Debtor failed to comply with this order. The Operational Creditor did not name an Insolvency Resolution Professional. The debt amount was Rs. 2.5 lakhs.
CP/1439/IB/2018 filed under Section 9 of the…
A last opportunity was…