The case involves an application filed by Anil Kumar, proprietor of Kay Pee Steels, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Air Movement & Control System Private Ltd. The application is based on an alleged default of Rs. 9,09,672/- along with interest at 18% per annum, totaling Rs. 10,27,310/-. The applicant supplied goods to the respondent between 20.07.2018 and 10.10.2018 against written purchase orders, amounting to Rs. 30,83,660/-. The respondent made a part payment of Rs. 21,73,988/-, leaving an outstanding balance of Rs. 9,09,672/-. The respondent issued two postdated cheques totaling Rs. 4,50,000/- which were dishonored due to 'insufficient balance'. The respondent

The case involves an application filed by Anil Kumar, proprietor of Kay Pee Steels, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Air Movement & Control System Private Ltd. The application is based on an alleged default of Rs. 9,09,672/- along with interest at 18% per annum, totaling Rs. 10,27,310/-. The applicant supplied goods to the respondent between 20.07.2018 and 10.10.2018 against written purchase orders, amounting to Rs. 30,83,660/-. The respondent made a part payment of Rs. 21,73,988/-, leaving an outstanding balance of Rs. 9,09,672/-. The respondent issued two postdated cheques totaling Rs. 4,50,000/- which were dishonored due to 'insufficient balance'. The respondent