AstraZeneca Pharma India Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Brosbel Engineering Private Limited, the corporate debtor, due to a default of Rs. 6,02,277. The default arose from a purchase order placed by AstraZeneca for air conditioning units, for which an advance payment was made, but the products were not delivered. The operational creditor issued legal notices and a demand notice to the corporate debtor, but the amount remained unpaid.
AstraZeneca Pharma India Limited (Operational Creditor) placed a purchase order with Brosbel Engineering Private Limited (Corporate Debtor) for the supply of air conditioning units. The Operational Creditor made an advance payment of Rs. 6,02,277, representing 50% of the total value of the purchase order. The Corporate Debtor failed to deliver the products within the agreed timeframe and requested an extension, citing manufacturing delays. Despite repeated follow-ups, the products were not delivered, and the advance payment was not refunded. The Operational Creditor issued a legal notice on 2018-05-09 and a demand notice on 2018-10-15 to the Corporate Debtor, demanding payment of the outstanding amount. The Corporate Debtor did not respond to the notices or make the
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AstraZeneca Pharma India Limited placed a…
Original delivery date…
AstraZeneca Pharma India Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Brosbel Engineering Private Limited, the corporate debtor, due to a default of Rs. 6,02,277. The default arose from a purchase order placed by AstraZeneca for air conditioning units, for which an advance payment was made, but the products were not delivered. The operational creditor issued legal notices and a demand notice to the corporate debtor, but the amount remained unpaid.
AstraZeneca Pharma India Limited (Operational Creditor) placed a purchase order with Brosbel Engineering Private Limited (Corporate Debtor) for the supply of air conditioning units. The Operational Creditor made an advance payment of Rs. 6,02,277, representing 50% of the total value of the purchase order. The Corporate Debtor failed to deliver the products within the agreed timeframe and requested an extension, citing manufacturing delays. Despite repeated follow-ups, the products were not delivered, and the advance payment was not refunded. The Operational Creditor issued a legal notice on 2018-05-09 and a demand notice on 2018-10-15 to the Corporate Debtor, demanding payment of the outstanding amount. The Corporate Debtor did not respond to the notices or make the
…AstraZeneca Pharma India Limited placed a…
Original delivery date…