Jai Balaji Industries Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Bengal India Global Infrastructure Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly failed to repay an operational debt of Rs. 88,39,04,705.40 towards the supply of iron and steel products. The Operational Creditor sent a demand notice under Section 8 of the I&B Code to the Corporate Debtor on 30.01.2018, which was received. The Corporate Debtor replied on 12.02.2018, admitting the debt and its non-payment.
Jai Balaji Industries Limited (Operational Creditor) claimed that Bengal India Global Infrastructure Limited (Corporate Debtor) owed Rs. 88,39,04,705.40 for the supply of iron and steel products. The Operational Creditor issued a demand notice to the Corporate Debtor on 30.01.2018, as required under Section 8 of the Insolvency & Bankruptcy Code (I&B Code). The Corporate Debtor received the demand notice and responded on 12.02.2018, admitting the debt and its non-payment. A director of the Corporate Debtor, Mr. Arjun Kr. Santhalia, filed an affidavit admitting the outstanding debt and the Corporate Debtor's inability to pay due to stringent financial constraints. The Operational Creditor filed a bank statement showing that they had not received the claimed
…Sign in to view the parties.
The Operational Creditor sent a demand notice…
The Corporate Debtor…
Jai Balaji Industries Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Bengal India Global Infrastructure Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly failed to repay an operational debt of Rs. 88,39,04,705.40 towards the supply of iron and steel products. The Operational Creditor sent a demand notice under Section 8 of the I&B Code to the Corporate Debtor on 30.01.2018, which was received. The Corporate Debtor replied on 12.02.2018, admitting the debt and its non-payment.
Jai Balaji Industries Limited (Operational Creditor) claimed that Bengal India Global Infrastructure Limited (Corporate Debtor) owed Rs. 88,39,04,705.40 for the supply of iron and steel products. The Operational Creditor issued a demand notice to the Corporate Debtor on 30.01.2018, as required under Section 8 of the Insolvency & Bankruptcy Code (I&B Code). The Corporate Debtor received the demand notice and responded on 12.02.2018, admitting the debt and its non-payment. A director of the Corporate Debtor, Mr. Arjun Kr. Santhalia, filed an affidavit admitting the outstanding debt and the Corporate Debtor's inability to pay due to stringent financial constraints. The Operational Creditor filed a bank statement showing that they had not received the claimed
…The Operational Creditor sent a demand notice…
The Corporate Debtor…