The case involves a Company Petition filed by N. Nagarajan, an Operational Creditor, against M/s. Auro Mira Biopower India Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was initially filed before the Madras High Court under Sections 433(e) and (f), 434(i)(a), and 439(i)(b) of the Companies Act, 1956, and was later transferred to the National Company Law Tribunal (NCLT) pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016. The petitioner is in the business of supplying raw materials such as rubber wood and biomass to power plants, while the respondent is engaged in generating and supplying power. A commercial relationship existed between the parties since 2011, with the petitioner supplying raw materials to the
…N. Nagarajan, the petitioner, is an operational creditor who supplies raw materials like rubber wood and biomass to power plants. M/s. Auro Mira Biopower India Private Limited, the respondent, is a company engaged in generating and supplying power. The two parties had a commercial relationship since 2011, during which Nagarajan supplied raw materials to Auro Mira's bio mass power plants located in Shanmugapuram Village, Kallupatti, and Ramanadu. Auro Mira made only meager payments to Nagarajan. Nagarajan claims that Auro Mira started closing its bio mass power plants. Nagarajan issued a statutory notice dated 06.03.2014 under section 434 of the Companies Act, 1956, demanding payment of Rs. 20,54,615.75/- along with interest at 18% per annum. Nagarajan filed a police
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A commercial relationship was established…
N. Nagarajan issued a statutory notice under…
The case involves a Company Petition filed by N. Nagarajan, an Operational Creditor, against M/s. Auro Mira Biopower India Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016. The petition was initially filed before the Madras High Court under Sections 433(e) and (f), 434(i)(a), and 439(i)(b) of the Companies Act, 1956, and was later transferred to the National Company Law Tribunal (NCLT) pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016. The petitioner is in the business of supplying raw materials such as rubber wood and biomass to power plants, while the respondent is engaged in generating and supplying power. A commercial relationship existed between the parties since 2011, with the petitioner supplying raw materials to the
…N. Nagarajan, the petitioner, is an operational creditor who supplies raw materials like rubber wood and biomass to power plants. M/s. Auro Mira Biopower India Private Limited, the respondent, is a company engaged in generating and supplying power. The two parties had a commercial relationship since 2011, during which Nagarajan supplied raw materials to Auro Mira's bio mass power plants located in Shanmugapuram Village, Kallupatti, and Ramanadu. Auro Mira made only meager payments to Nagarajan. Nagarajan claims that Auro Mira started closing its bio mass power plants. Nagarajan issued a statutory notice dated 06.03.2014 under section 434 of the Companies Act, 1956, demanding payment of Rs. 20,54,615.75/- along with interest at 18% per annum. Nagarajan filed a police
…A commercial relationship was established…
N. Nagarajan issued a statutory notice under…