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, due to a default in payment. A prior order dated 06.11.2019 had given the Corporate Debtor a final opportunity to remit Rs.2.5 lakhs, which they failed to do. The Tribunal observed that the Corporate Debtor defaulted on its payment obligations to the Operational Creditor. The Operational Creditor did not propose an Insolvency Resolution Professional, so the Tribunal appointed Mr. V. Mohan as the IRP. The application was filed as CP/1439/IB/2018.

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, due to a default in payment. A prior order dated 06.11.2019 had given the Corporate Debtor a final opportunity to remit Rs.2.5 lakhs, which they failed to do. The Tribunal observed that the Corporate Debtor defaulted on its payment obligations to the Operational Creditor. The Operational Creditor did not propose an Insolvency Resolution Professional, so the Tribunal appointed Mr. V. Mohan as the IRP. The application was filed as CP/1439/IB/2018.