Bidue SRL of Italy filed a Company Petition under Sections 8 & 9 of the IBC, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Bhor Engineering Private Limited. The petitioner alleged that the Corporate Debtor defaulted in making payments amounting to Rs. 24,44,865.62. The Corporate Debtor had approached the Petitioner for the purchase of steel tubes and related products, for which invoices were raised for Euro 39,895.19. The Corporate Debtor requested to pay the amount in 8 installments, paid the first installment, and then defaulted on the remaining payments.
Bidue SRL, an Italian company, supplied steel tubes and related products to Bhor Engineering Private Limited. Bhor Engineering Private Limited defaulted on payments amounting to Rs. 24,44,865.62. Bidue SRL issued a demand notice under Section 8 of the IBC, 2016, seeking the outstanding amount of Rs. 26,76,419.36 plus interest. Bhor Engineering Private Limited failed to respond to the demand notice or make the payment. The demand notice was served through substituted service after initial attempts via R.P.A.D. failed. The last payment received from the Corporate Debtor was on 09.09.2017 to the extent of Euro 4,986.89. The Corporate Debtor had initially requested to pay the amount in 8 installments and paid the first installment on 26.04.2016.
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The Corporate Debtor…
The Corporate Debtor…
Bidue SRL of Italy filed a Company Petition under Sections 8 & 9 of the IBC, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Bhor Engineering Private Limited. The petitioner alleged that the Corporate Debtor defaulted in making payments amounting to Rs. 24,44,865.62. The Corporate Debtor had approached the Petitioner for the purchase of steel tubes and related products, for which invoices were raised for Euro 39,895.19. The Corporate Debtor requested to pay the amount in 8 installments, paid the first installment, and then defaulted on the remaining payments.
Bidue SRL, an Italian company, supplied steel tubes and related products to Bhor Engineering Private Limited. Bhor Engineering Private Limited defaulted on payments amounting to Rs. 24,44,865.62. Bidue SRL issued a demand notice under Section 8 of the IBC, 2016, seeking the outstanding amount of Rs. 26,76,419.36 plus interest. Bhor Engineering Private Limited failed to respond to the demand notice or make the payment. The demand notice was served through substituted service after initial attempts via R.P.A.D. failed. The last payment received from the Corporate Debtor was on 09.09.2017 to the extent of Euro 4,986.89. The Corporate Debtor had initially requested to pay the amount in 8 installments and paid the first installment on 26.04.2016.
The Corporate Debtor…
The Corporate Debtor…