The case pertains to an application filed by CMC Metals Pvt. Ltd., an Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Airofrost HVAC Systems Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed an outstanding operational debt of ₹3,73,188 plus interest of ₹2,52,972, totaling ₹6,26,160. The Corporate Debtor allegedly failed to make payments for goods delivered based on purchase orders placed in June 2015. The Operational Creditor issued a demand notice under Section 8 of the Code on 07.05.2018, which the Corporate Debtor did not respond to. The petition was filed due to the Corporate Debtor's failure to pay the outstanding debt.
CMC Metals Pvt. Ltd. (Operational Creditor) supplied goods (Copper Tubes/Pipes/Copper Fittings/Insulation Tubes) to Airofrost HVAC Systems Pvt. Ltd. (Corporate Debtor) based on purchase orders dated 13.06.2015 and 20.06.2015. The Operational Creditor raised invoices CMC214/15-16 dated 13.06.2015 for ₹1,83,061 and CMC/236/15-16 dated 20.06.2015 for ₹1,90,127, totaling ₹3,73,188. The Corporate Debtor failed to make payments against these invoices. The first date of default was 13.06.2015 and the second was 20.06.2015. The Operational Creditor issued a demand notice dated 07.05.2018 under Section 8 of the IBC, which was received by the Corporate Debtor on 10.05.2018, but the Corporate Debtor did not respond or refute the claim. The petition was filed on 28.05.2018. The
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Corporate Debtor placed purchase orders;…
Corporate Debtor placed purchase orders;…
The case pertains to an application filed by CMC Metals Pvt. Ltd., an Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Airofrost HVAC Systems Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed an outstanding operational debt of ₹3,73,188 plus interest of ₹2,52,972, totaling ₹6,26,160. The Corporate Debtor allegedly failed to make payments for goods delivered based on purchase orders placed in June 2015. The Operational Creditor issued a demand notice under Section 8 of the Code on 07.05.2018, which the Corporate Debtor did not respond to. The petition was filed due to the Corporate Debtor's failure to pay the outstanding debt.
CMC Metals Pvt. Ltd. (Operational Creditor) supplied goods (Copper Tubes/Pipes/Copper Fittings/Insulation Tubes) to Airofrost HVAC Systems Pvt. Ltd. (Corporate Debtor) based on purchase orders dated 13.06.2015 and 20.06.2015. The Operational Creditor raised invoices CMC214/15-16 dated 13.06.2015 for ₹1,83,061 and CMC/236/15-16 dated 20.06.2015 for ₹1,90,127, totaling ₹3,73,188. The Corporate Debtor failed to make payments against these invoices. The first date of default was 13.06.2015 and the second was 20.06.2015. The Operational Creditor issued a demand notice dated 07.05.2018 under Section 8 of the IBC, which was received by the Corporate Debtor on 10.05.2018, but the Corporate Debtor did not respond or refute the claim. The petition was filed on 28.05.2018. The
…Corporate Debtor placed purchase orders;…
Corporate Debtor placed purchase orders;…