The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Balaji Tech Industries, an operational creditor, against Apna Scientific Supplies Private Limited, the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to an outstanding debt. The operational creditor claimed that the corporate debtor had approached them for purchasing spare parts, which were supplied accordingly. Despite repeated demands, the corporate debtor failed to pay the outstanding dues.
Balaji Tech Industries, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Apna Scientific Supplies Private Limited, a corporate debtor. The operational creditor claimed an outstanding debt of Rs.2,87,500/- along with interest, payable as of 04.05.2018. The operational creditor is engaged in fabrication-related works. The corporate debtor had approached the operational creditor to purchase spare parts, which the operational creditor supplied. A purchase order stipulated the terms, including delivery and payment. The operational creditor raised invoices. The corporate debtor sent a letter on 19.10.2016, requesting the operational creditor to wait for some time to solve the issue and release payments. The
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Operational Creditor sent a Demand Notice under…
The Demand Not…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Balaji Tech Industries, an operational creditor, against Apna Scientific Supplies Private Limited, the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to an outstanding debt. The operational creditor claimed that the corporate debtor had approached them for purchasing spare parts, which were supplied accordingly. Despite repeated demands, the corporate debtor failed to pay the outstanding dues.
Balaji Tech Industries, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Apna Scientific Supplies Private Limited, a corporate debtor. The operational creditor claimed an outstanding debt of Rs.2,87,500/- along with interest, payable as of 04.05.2018. The operational creditor is engaged in fabrication-related works. The corporate debtor had approached the operational creditor to purchase spare parts, which the operational creditor supplied. A purchase order stipulated the terms, including delivery and payment. The operational creditor raised invoices. The corporate debtor sent a letter on 19.10.2016, requesting the operational creditor to wait for some time to solve the issue and release payments. The
…Operational Creditor sent a Demand Notice under…
The Demand Not…