The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Adit Goel, proprietor of Adit Collaboration, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Best Zone Builders & Developers Private Limited. The operational creditor claimed that the corporate debtor regularly purchased cement, bricks, and other building materials from them since 2018-19 based on verbal orders and invoices, with a 60-day credit period. The corporate debtor allegedly failed to make payments against the invoices, leading to the petition.
Adit Goel, operating as Adit Collaboration, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Best Zone Builders & Developers Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Adit Goel, the operational creditor, claimed that Best Zone Builders & Developers Private Limited, the corporate debtor, had been regularly purchasing building materials from them since 2018-19. These transactions were based on verbal orders, with invoices issued for the supplies. A credit period of 60 days was allegedly agreed upon. The corporate debtor failed to make payments against these invoices, leading to a total outstanding debt of ₹1,19,57,310/-, including ₹1,03,48,300/- as principal and ₹16,09,010/- as
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Best Zone Builders & Developers Private Limited…
A demand notice in…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Adit Goel, proprietor of Adit Collaboration, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Best Zone Builders & Developers Private Limited. The operational creditor claimed that the corporate debtor regularly purchased cement, bricks, and other building materials from them since 2018-19 based on verbal orders and invoices, with a 60-day credit period. The corporate debtor allegedly failed to make payments against the invoices, leading to the petition.
Adit Goel, operating as Adit Collaboration, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Best Zone Builders & Developers Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Adit Goel, the operational creditor, claimed that Best Zone Builders & Developers Private Limited, the corporate debtor, had been regularly purchasing building materials from them since 2018-19. These transactions were based on verbal orders, with invoices issued for the supplies. A credit period of 60 days was allegedly agreed upon. The corporate debtor failed to make payments against these invoices, leading to a total outstanding debt of ₹1,19,57,310/-, including ₹1,03,48,300/- as principal and ₹16,09,010/- as
…Best Zone Builders & Developers Private Limited…
A demand notice in…