The case involves an application filed by CMC Metals Pvt. Ltd., an Operational Creditor, against Airofrost HVAC Systems Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. 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. A demand notice was issued to the Corporate Debtor, but they did not respond. The petition was filed to initiate the Corporate Insolvency Resolution Process (CIRP).
CMC Metals Pvt. Ltd. (Operational Creditor) filed a petition against Airofrost HVAC Systems Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming an outstanding operational debt of ₹6,26,160 (₹3,73,188 principal + ₹2,52,972 interest). The debt arose from purchase orders placed by the Corporate Debtor in June 2015 for copper tubes, pipes, and fittings. The Operational Creditor delivered the goods and raised invoices. The Corporate Debtor failed to make the payments. The first date of default was June 13, 2015, and the second was June 20, 2015. A demand notice under Section 8 of the Code was issued on May 7, 2018, and received by the Corporate Debtor on May 10, 2018, but no response was received. The Corporate Debtor
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The first date of default occurred when the…
The second date of default occurred when the…
The case involves an application filed by CMC Metals Pvt. Ltd., an Operational Creditor, against Airofrost HVAC Systems Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. 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. A demand notice was issued to the Corporate Debtor, but they did not respond. The petition was filed to initiate the Corporate Insolvency Resolution Process (CIRP).
CMC Metals Pvt. Ltd. (Operational Creditor) filed a petition against Airofrost HVAC Systems Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming an outstanding operational debt of ₹6,26,160 (₹3,73,188 principal + ₹2,52,972 interest). The debt arose from purchase orders placed by the Corporate Debtor in June 2015 for copper tubes, pipes, and fittings. The Operational Creditor delivered the goods and raised invoices. The Corporate Debtor failed to make the payments. The first date of default was June 13, 2015, and the second was June 20, 2015. A demand notice under Section 8 of the Code was issued on May 7, 2018, and received by the Corporate Debtor on May 10, 2018, but no response was received. The Corporate Debtor
…The first date of default occurred when the…
The second date of default occurred when the…