The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Ashtech Buildpro India Private Limited (Operational Creditor) against M/s Ambience Projects and Infrastructure Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of AAC blocks. The applicant issued a demand notice under section 8 of the IBC, 2016, which the corporate debtor claimed not to have received.
M/s Ashtech Buildpro India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Ambience Projects and Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor had purchased AAC blocks from the Operational Creditor from September 2016 onwards. The Operational Creditor raised invoices totaling Rs. 9,26,040/-, out of which the Corporate Debtor paid Rs. 4,45,162/-. A balance of Rs. 4,80,878/- remained due, along with interest at 18% p.a. The Operational Creditor issued a demand notice dated 19.07.2017 under Section 8 of the IBC, 2016, which was sent to the Corporate Debtor on 22.07.2017 and duly delivered on July 22,
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The Corporate Debtor…
The Operational…
The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Ashtech Buildpro India Private Limited (Operational Creditor) against M/s Ambience Projects and Infrastructure Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of AAC blocks. The applicant issued a demand notice under section 8 of the IBC, 2016, which the corporate debtor claimed not to have received.
M/s Ashtech Buildpro India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Ambience Projects and Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor had purchased AAC blocks from the Operational Creditor from September 2016 onwards. The Operational Creditor raised invoices totaling Rs. 9,26,040/-, out of which the Corporate Debtor paid Rs. 4,45,162/-. A balance of Rs. 4,80,878/- remained due, along with interest at 18% p.a. The Operational Creditor issued a demand notice dated 19.07.2017 under Section 8 of the IBC, 2016, which was sent to the Corporate Debtor on 22.07.2017 and duly delivered on July 22,
…The Corporate Debtor…
The Operational…