M/s. Fomra Electricals (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Delight Switchgears Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 28,02,766/- along with 24% per annum interest. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied electrical components. The Corporate Debtor, however, contested the claim, alleging suppression of material facts and the existence of a pre-existing dispute regarding the amount due.
M/s. Fomra Electricals, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Delight Switchgears Private Limited, the corporate debtor, claiming a default of Rs. 28,02,766/- along with 24% per annum interest. The claim arose from the supply of electrical components. The operational creditor submitted that a total debt of Rs. 16,20,000/- was outstanding, with interest accruing at 24% per annum from the due date of invoices until 12.10.2019. A sum of Rs. 49,052/- had been paid against an invoice. The operational creditor issued a demand notice under Section 8 of the IBC on 19.10.2019, but received no reply. The corporate debtor denied the allegations, stating suppression of material facts and the
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Corporate Debtor issued…
One invoice was dated…
M/s. Fomra Electricals (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Delight Switchgears Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 28,02,766/- along with 24% per annum interest. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied electrical components. The Corporate Debtor, however, contested the claim, alleging suppression of material facts and the existence of a pre-existing dispute regarding the amount due.
M/s. Fomra Electricals, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Delight Switchgears Private Limited, the corporate debtor, claiming a default of Rs. 28,02,766/- along with 24% per annum interest. The claim arose from the supply of electrical components. The operational creditor submitted that a total debt of Rs. 16,20,000/- was outstanding, with interest accruing at 24% per annum from the due date of invoices until 12.10.2019. A sum of Rs. 49,052/- had been paid against an invoice. The operational creditor issued a demand notice under Section 8 of the IBC on 19.10.2019, but received no reply. The corporate debtor denied the allegations, stating suppression of material facts and the
…Corporate Debtor issued…
One invoice was dated…