M/s. Aditya Fabricators, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Balaji Fiber Reinforce Inforce Ltd., the corporate debtor, due to a default in payment of Rs. 85,43,026/-. The operational creditor claimed that they supplied goods to the corporate debtor, raised invoices, and despite reminders, the corporate debtor failed to pay the outstanding dues. A demand notice was issued under Section 8 of the I&B Code on 11.01.2019, seeking payment of the outstanding amount. The corporate debtor appeared through counsel but did not file any reply and availed adjournments on the ground of settlement.
M/s. Aditya Fabricators, the operational creditor, is a partnership firm established in 2012, engaged in the business of supplying and trading polyester resin, dmc resin, gp resin, etc. M/s. Balaji Fiber Reinforce Inforce Ltd., the corporate debtor, is a private limited company registered on 30.03.2007. The operational creditor claimed a total default of Rs. 85,43,026/-, including interest at 18% per annum. The total cost of goods supplied to the respondent till 03.07.2017 was Rs. 64,31,782/-, plus interest of Rs. 21,11,244/-. The operational creditor issued a demand notice under Section 8 of the I&B Code on 11.01.2019. The corporate debtor appeared through counsel but did not file any reply and sought adjournments for settlement. A cheque of Rs. 25.00 lacs issued
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M/s. Balaji Fiber…
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M/s. Aditya Fabricators, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Balaji Fiber Reinforce Inforce Ltd., the corporate debtor, due to a default in payment of Rs. 85,43,026/-. The operational creditor claimed that they supplied goods to the corporate debtor, raised invoices, and despite reminders, the corporate debtor failed to pay the outstanding dues. A demand notice was issued under Section 8 of the I&B Code on 11.01.2019, seeking payment of the outstanding amount. The corporate debtor appeared through counsel but did not file any reply and availed adjournments on the ground of settlement.
M/s. Aditya Fabricators, the operational creditor, is a partnership firm established in 2012, engaged in the business of supplying and trading polyester resin, dmc resin, gp resin, etc. M/s. Balaji Fiber Reinforce Inforce Ltd., the corporate debtor, is a private limited company registered on 30.03.2007. The operational creditor claimed a total default of Rs. 85,43,026/-, including interest at 18% per annum. The total cost of goods supplied to the respondent till 03.07.2017 was Rs. 64,31,782/-, plus interest of Rs. 21,11,244/-. The operational creditor issued a demand notice under Section 8 of the I&B Code on 11.01.2019. The corporate debtor appeared through counsel but did not file any reply and sought adjournments for settlement. A cheque of Rs. 25.00 lacs issued
…M/s. Balaji Fiber…
Total cost of goods…