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 executing a purchase order 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 Operational Creditor was required to supply RMC of grade M-25 as per the designed mix and manufactured in a fully automatic batching plant and transported to the site of work. The quantity of RMC was 3000 at the rate of Rs. 4,600, with a total value
…M/S. Anant Associates Pvt. Ltd. (Operational Creditor) filed an application against Arhan Infratech Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. 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 started 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 site of work. The quantity was 3000 at the rate of Rs. 4,600, totaling Rs. 1,38,00,000. Payment terms required consolidated bills every 15 days, with payments within 15 working days. Initially, invoices
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Execution of the purchase order between the…
The Corporate Debtor…
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 executing a purchase order 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 Operational Creditor was required to supply RMC of grade M-25 as per the designed mix and manufactured in a fully automatic batching plant and transported to the site of work. The quantity of RMC was 3000 at the rate of Rs. 4,600, with a total value
…M/S. Anant Associates Pvt. Ltd. (Operational Creditor) filed an application against Arhan Infratech Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. 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 started 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 site of work. The quantity was 3000 at the rate of Rs. 4,600, totaling Rs. 1,38,00,000. Payment terms required consolidated bills every 15 days, with payments within 15 working days. Initially, invoices
…Execution of the purchase order between the…
The Corporate Debtor…