The case involves an application filed by M/s. Beardsell Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Canalairz Airz Solutions Private Limited, the Corporate Debtor. The Operational Creditor claimed a sum of Rs. 16,09,790/- as operational debt, with interest at 18% p.a. from the due date of invoice till realization. The Corporate Debtor contested the application, arguing that the claim was barred by limitation.
M/s. Beardsell Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Canalairz Airz Solutions Private Limited (Corporate Debtor). The Operational Creditor claimed Rs. 16,09,790/- as operational debt with 18% interest p.a. The Operational Creditor supplied Siemens Motors to the Corporate Debtor based on purchase orders. The Corporate Debtor was to make payments within 30 days of receiving the materials, but failed to do so. The Operational Creditor issued a letter on 2019-04-15 requesting payment. A demand notice in Form 3 was sent on 2019-08-01 and received by the Corporate Debtor on 2019-08-05. The Corporate Debtor replied on 2019-08-12,
…Sign in to view the parties.
Start date of the…
End date of the period…
The case involves an application filed by M/s. Beardsell Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Canalairz Airz Solutions Private Limited, the Corporate Debtor. The Operational Creditor claimed a sum of Rs. 16,09,790/- as operational debt, with interest at 18% p.a. from the due date of invoice till realization. The Corporate Debtor contested the application, arguing that the claim was barred by limitation.
M/s. Beardsell Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Canalairz Airz Solutions Private Limited (Corporate Debtor). The Operational Creditor claimed Rs. 16,09,790/- as operational debt with 18% interest p.a. The Operational Creditor supplied Siemens Motors to the Corporate Debtor based on purchase orders. The Corporate Debtor was to make payments within 30 days of receiving the materials, but failed to do so. The Operational Creditor issued a letter on 2019-04-15 requesting payment. A demand notice in Form 3 was sent on 2019-08-01 and received by the Corporate Debtor on 2019-08-05. The Corporate Debtor replied on 2019-08-12,
…Start date of the…
End date of the period…