The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Centum Electronics Limited (Operational Creditor) against ConnectM Technologies Solutions Private Limited (Corporate Debtor) for initiating the Insolvency Resolution Process. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for RTU Components and consumables supplied based on purchase orders issued in 2013. Despite delivering the materials and raising invoices, the Corporate Debtor allegedly failed to pay the outstanding amount of Rs. 69,93,911/- after making a partial payment. The Operational Creditor issued a demand notice under Section 8 of the I&B Code, but received no reply.
Centum Electronics Limited (Operational Creditor) filed a petition against ConnectM Technologies Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Operational Creditor is a public limited company involved in product design and manufacturing. The Corporate Debtor is engaged in IoT technology solutions. The Corporate Debtor approached the Operational Creditor for the purchase of RTU Components and consumables. The Corporate Debtor issued a purchase order dated 2013-03-27. The Operational Creditor delivered materials against the purchase order dated 2013-03-31 and raised invoices totaling Rs. 82,83,576/-. The Corporate Debtor made a partial payment of Rs. 12,89,655/- through cheques in 2013 and 2014. The
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Corporate Debtor issued purchase order for…
Operational Creditor…
The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by Centum Electronics Limited (Operational Creditor) against ConnectM Technologies Solutions Private Limited (Corporate Debtor) for initiating the Insolvency Resolution Process. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for RTU Components and consumables supplied based on purchase orders issued in 2013. Despite delivering the materials and raising invoices, the Corporate Debtor allegedly failed to pay the outstanding amount of Rs. 69,93,911/- after making a partial payment. The Operational Creditor issued a demand notice under Section 8 of the I&B Code, but received no reply.
Centum Electronics Limited (Operational Creditor) filed a petition against ConnectM Technologies Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Operational Creditor is a public limited company involved in product design and manufacturing. The Corporate Debtor is engaged in IoT technology solutions. The Corporate Debtor approached the Operational Creditor for the purchase of RTU Components and consumables. The Corporate Debtor issued a purchase order dated 2013-03-27. The Operational Creditor delivered materials against the purchase order dated 2013-03-31 and raised invoices totaling Rs. 82,83,576/-. The Corporate Debtor made a partial payment of Rs. 12,89,655/- through cheques in 2013 and 2014. The
…Corporate Debtor issued purchase order for…
Operational Creditor…