The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/S. Anant Associates Pvt. Ltd. (Operational Creditor) against Arhan Infratech Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor approached them for supplying ready mix cement concrete (RMC) at specified locations. After a purchase order was executed on 2014-11-13, the Operational Creditor started supplying RMC to M/s. KV Developers Pvt. Ltd., a group company of the Corporate Debtor. The payment situation deteriorated starting 2018-04-01, and despite repeated demands, emails, and phone calls, the Corporate Debtor failed to make payments.
M/S. Anant Associates Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Arhan Infratech Pvt. Ltd. (Corporate Debtor). The Corporate Debtor approached the Operational Creditor for the supply of ready mix cement concrete (RMC). A purchase order was executed on 2014-11-13, and the Operational Creditor began supplying RMC to M/s. KV Developers Pvt. Ltd., a group company of the Corporate Debtor. The RMC was to be of grade M-25, manufactured in a fully automatic batching plant, and transported to the work site. The quantity of RMC ordered was 3000 at a rate of Rs. 4,600, totaling Rs. 1,38,00,000. Payment terms required the Operational Creditor to raise consolidated bills every 15 days, with payments to
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Purchase order executed between the Operational…
The payment situation started becoming grim,…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/S. Anant Associates Pvt. Ltd. (Operational Creditor) against Arhan Infratech Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor approached them for supplying ready mix cement concrete (RMC) at specified locations. After a purchase order was executed on 2014-11-13, the Operational Creditor started supplying RMC to M/s. KV Developers Pvt. Ltd., a group company of the Corporate Debtor. The payment situation deteriorated starting 2018-04-01, and despite repeated demands, emails, and phone calls, the Corporate Debtor failed to make payments.
M/S. Anant Associates Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Arhan Infratech Pvt. Ltd. (Corporate Debtor). The Corporate Debtor approached the Operational Creditor for the supply of ready mix cement concrete (RMC). A purchase order was executed on 2014-11-13, and the Operational Creditor began supplying RMC to M/s. KV Developers Pvt. Ltd., a group company of the Corporate Debtor. The RMC was to be of grade M-25, manufactured in a fully automatic batching plant, and transported to the work site. The quantity of RMC ordered was 3000 at a rate of Rs. 4,600, totaling Rs. 1,38,00,000. Payment terms required the Operational Creditor to raise consolidated bills every 15 days, with payments to
…Purchase order executed between the Operational…
The payment situation started becoming grim,…