The case involves an application filed by Balaji Tech Industries, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process against Apna Scientific Supplies Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 2,87,500/- along with interest due and payable as of 04.05.2018. The Corporate Debtor had approached the Operational Creditor for purchasing spare parts, which the Operational Creditor agreed to supply. Despite sending a demand notice under Section 8 of the I&B Code and subsequent correspondence, the Corporate Debtor failed to make the
…Balaji Tech Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Apna Scientific Supplies Private Limited (Corporate Debtor) for an outstanding debt of Rs. 2,87,500/- plus interest, payable as of 04.05.2018. The Operational Creditor is engaged in fabrication works and was approached by the Corporate Debtor to purchase spare parts. The Operational Creditor supplied the spare parts. A purchase order stipulated the terms, including delivery and payment. The Operational Creditor raised invoices. Correspondence shows the Operational Creditor demanded outstanding dues. On 19.10.2016, the Corporate Debtor requested the Operational Creditor to wait for some time to solve the issue and release payments. A
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Outstanding debt of Rs.…
Operational Creditor…
The case involves an application filed by Balaji Tech Industries, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process against Apna Scientific Supplies Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 2,87,500/- along with interest due and payable as of 04.05.2018. The Corporate Debtor had approached the Operational Creditor for purchasing spare parts, which the Operational Creditor agreed to supply. Despite sending a demand notice under Section 8 of the I&B Code and subsequent correspondence, the Corporate Debtor failed to make the
…Balaji Tech Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Apna Scientific Supplies Private Limited (Corporate Debtor) for an outstanding debt of Rs. 2,87,500/- plus interest, payable as of 04.05.2018. The Operational Creditor is engaged in fabrication works and was approached by the Corporate Debtor to purchase spare parts. The Operational Creditor supplied the spare parts. A purchase order stipulated the terms, including delivery and payment. The Operational Creditor raised invoices. Correspondence shows the Operational Creditor demanded outstanding dues. On 19.10.2016, the Corporate Debtor requested the Operational Creditor to wait for some time to solve the issue and release payments. A
…Outstanding debt of Rs.…
Operational Creditor…