The case involves a petition filed by M/s. Kunal Conchem Private Limited (Operational Creditor) against M/s. CK Infra Equipment Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on a total principal amount of Rs. 22,87,583 along with interest. The Corporate Debtor had approached the Operational Creditor for the purchase of construction chemicals for their construction work. Goods were supplied, and invoices were raised for Rs. 27,87,584.40, with a condition of 18% interest on delayed payments. The Corporate Debtor was informed about the outstanding dues via email on 2019-11-15, and a
…M/s. Kunal Conchem Private Limited (Operational Creditor) filed a petition against M/s. CK Infra Equipment Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016. The Corporate Debtor was incorporated on 2014-09-20. The Operational Creditor supplied construction chemicals to the Corporate Debtor for their projects in Andhra Pradesh. Invoices were raised for Rs. 27,87,584.40, with a payment term of 30 days and an 18% interest clause for delayed payments. The Corporate Debtor defaulted on payments, leading to an outstanding principal amount of Rs. 22,87,583. The Operational Creditor issued a demand notice on 2019-12-05, claiming Rs. 25,96,922, including interest. The Corporate Debtor had earlier committed to clearing part of the dues by 2019-11-30 and the
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M/s. CK Infra E…
Corporate Debtor was…
The case involves a petition filed by M/s. Kunal Conchem Private Limited (Operational Creditor) against M/s. CK Infra Equipment Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on a total principal amount of Rs. 22,87,583 along with interest. The Corporate Debtor had approached the Operational Creditor for the purchase of construction chemicals for their construction work. Goods were supplied, and invoices were raised for Rs. 27,87,584.40, with a condition of 18% interest on delayed payments. The Corporate Debtor was informed about the outstanding dues via email on 2019-11-15, and a
…M/s. Kunal Conchem Private Limited (Operational Creditor) filed a petition against M/s. CK Infra Equipment Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016. The Corporate Debtor was incorporated on 2014-09-20. The Operational Creditor supplied construction chemicals to the Corporate Debtor for their projects in Andhra Pradesh. Invoices were raised for Rs. 27,87,584.40, with a payment term of 30 days and an 18% interest clause for delayed payments. The Corporate Debtor defaulted on payments, leading to an outstanding principal amount of Rs. 22,87,583. The Operational Creditor issued a demand notice on 2019-12-05, claiming Rs. 25,96,922, including interest. The Corporate Debtor had earlier committed to clearing part of the dues by 2019-11-30 and the
…M/s. CK Infra E…
Corporate Debtor was…