The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Sanghi Movers Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Chand Cranes Private Limited (Corporate Debtor).
M/s Sanghi Movers Private Limited, the Operational Creditor, approached Chand Cranes Private Limited, the Corporate Debtor, for the supply of cranes on a hire/rental basis.
A Purchase Agreement dated January 04, 2018, was executed between SML and CD for Rs.3,11,00,000/-+ GST as applicable.
Invoice nos. SML/MH/2017-18/004 and SML/MH/2017-18/005 dated 04th Jan. 2018 of amount Rs.3,66,98,000/- including GST had been raised.
The amount claimed to be in default is Rs. 3,66,980/- excluding 24% interest p.a. till date and the default occurred on 21.07.2018.
A demand notice in Form 3 dated 14.01.2019 was stated to be issued to the operational creditor by registered post.
The application was filed on 21.05.2019 vide Diary No. 2575.
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Purchase Agreement…
Invoice nos. SML/MH/2017-18/004 and…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Sanghi Movers Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Chand Cranes Private Limited (Corporate Debtor).
M/s Sanghi Movers Private Limited, the Operational Creditor, approached Chand Cranes Private Limited, the Corporate Debtor, for the supply of cranes on a hire/rental basis.
A Purchase Agreement dated January 04, 2018, was executed between SML and CD for Rs.3,11,00,000/-+ GST as applicable.
Invoice nos. SML/MH/2017-18/004 and SML/MH/2017-18/005 dated 04th Jan. 2018 of amount Rs.3,66,98,000/- including GST had been raised.
The amount claimed to be in default is Rs. 3,66,980/- excluding 24% interest p.a. till date and the default occurred on 21.07.2018.
A demand notice in Form 3 dated 14.01.2019 was stated to be issued to the operational creditor by registered post.
The application was filed on 21.05.2019 vide Diary No. 2575.
…Purchase Agreement…
Invoice nos. SML/MH/2017-18/004 and…