The case involves a Company Petition (IB) No. 70/ALD/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by R.G. Steel, an operational creditor, against Bee Kay Precisum (India) Pvt. Ltd., the corporate debtor. R.G. Steel claimed that Bee Kay Precisum defaulted on payments for goods (Iron and Steel) supplied on credit. The operational creditor issued a demand notice on 03.01.2018, seeking the outstanding amount, including principal and interest. The corporate debtor objected to the application, citing deficiencies in the demand notice and alleging that the operational creditor supplied poor quality goods, causing financial injury. The corporate debtor also claimed to be an operational creditor of LML Ltd., with a significant amount outstanding.
R.G. Steel, a registered proprietorship firm, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bee Kay Precisum (India) Pvt. Ltd., a company incorporated under the Companies Act, 1956. R.G. Steel claimed to be an operational creditor of Bee Kay Precisum, alleging that Bee Kay Precisum had defaulted on payments for goods (Iron and Steel) supplied on credit. The total outstanding debt, including principal and interest, was Rs. 10,39,685.84. R.G. Steel issued a demand notice on 03.01.2018, seeking the outstanding amount. Bee Kay Precisum objected to the application, claiming deficiencies in the demand notice and alleging the supply of poor-quality goods. Bee Kay Precisum also claimed to be an operational creditor of LML Ltd., with a
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Operational Creditor, R.G. Steel, issued a…
NCLT Allahabad Bench delivered the order…
The case involves a Company Petition (IB) No. 70/ALD/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by R.G. Steel, an operational creditor, against Bee Kay Precisum (India) Pvt. Ltd., the corporate debtor. R.G. Steel claimed that Bee Kay Precisum defaulted on payments for goods (Iron and Steel) supplied on credit. The operational creditor issued a demand notice on 03.01.2018, seeking the outstanding amount, including principal and interest. The corporate debtor objected to the application, citing deficiencies in the demand notice and alleging that the operational creditor supplied poor quality goods, causing financial injury. The corporate debtor also claimed to be an operational creditor of LML Ltd., with a significant amount outstanding.
R.G. Steel, a registered proprietorship firm, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bee Kay Precisum (India) Pvt. Ltd., a company incorporated under the Companies Act, 1956. R.G. Steel claimed to be an operational creditor of Bee Kay Precisum, alleging that Bee Kay Precisum had defaulted on payments for goods (Iron and Steel) supplied on credit. The total outstanding debt, including principal and interest, was Rs. 10,39,685.84. R.G. Steel issued a demand notice on 03.01.2018, seeking the outstanding amount. Bee Kay Precisum objected to the application, claiming deficiencies in the demand notice and alleging the supply of poor-quality goods. Bee Kay Precisum also claimed to be an operational creditor of LML Ltd., with a
…Operational Creditor, R.G. Steel, issued a…
NCLT Allahabad Bench delivered the order…