The case involves an application filed by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor due to an outstanding debt.
The Operational Creditor, M/s. Balaji Tech Industries, is engaged in fabrication-related works. The Corporate Debtor, M/s. Apna Scientific Supplies Private Limited, approached the Operational Creditor to purchase spare parts. The Operational Creditor agreed to supply the parts, and a purchase order was issued, stipulating terms including delivery and payment. Invoices for the supplied goods were also raised. The Operational Creditor claimed an outstanding debt of Rs. 2,87,500/- along with interest, due and payable as of May 4, 2018 . Correspondence between the parties, demanding the outstanding dues, is on record. On October 19, 2016 , the Corporate Debtor sent a letter requesting the Operational Creditor to wait to resolve the issue and release payments. The
…Sign in to view the parties.
The Corporate Debtor sent a letter to the…
The Operational Creditor sent a Demand Notice…
The case involves an application filed by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor due to an outstanding debt.
The Operational Creditor, M/s. Balaji Tech Industries, is engaged in fabrication-related works. The Corporate Debtor, M/s. Apna Scientific Supplies Private Limited, approached the Operational Creditor to purchase spare parts. The Operational Creditor agreed to supply the parts, and a purchase order was issued, stipulating terms including delivery and payment. Invoices for the supplied goods were also raised. The Operational Creditor claimed an outstanding debt of Rs. 2,87,500/- along with interest, due and payable as of May 4, 2018 . Correspondence between the parties, demanding the outstanding dues, is on record. On October 19, 2016 , the Corporate Debtor sent a letter requesting the Operational Creditor to wait to resolve the issue and release payments. The
…The Corporate Debtor sent a letter to the…
The Operational Creditor sent a Demand Notice…