The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Prop. Mahaveer Bhandari and Sons HUF (Operational Creditor) against M/s. EAP Infrastructures Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 22,58,945/- due from 05.07.2019 for supplying construction materials. The Corporate Debtor failed to file a counter despite multiple opportunities, leading the Tribunal to proceed ex-parte.
Prop. Mahaveer Bhandari and Sons HUF (Operational Creditor) filed an application against M/s. EAP Infrastructures Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 22,58,945/- due from 05.07.2019. The Operational Creditor supplied construction materials to the Corporate Debtor between May 2016 and October 2018. The Operational Creditor raised 58 invoices, out of which the Corporate Debtor cleared payment for about 27 invoices with some delay. The Corporate Debtor issued post-dated cheques aggregating to Rs. 19,14,024/- which were later dishonored with the remark 'Payment Stopped by Drawer'. The Operational
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The Insolven…
Rule 6 of the Insolvency and Bankruptcy…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Prop. Mahaveer Bhandari and Sons HUF (Operational Creditor) against M/s. EAP Infrastructures Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 22,58,945/- due from 05.07.2019 for supplying construction materials. The Corporate Debtor failed to file a counter despite multiple opportunities, leading the Tribunal to proceed ex-parte.
Prop. Mahaveer Bhandari and Sons HUF (Operational Creditor) filed an application against M/s. EAP Infrastructures Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 22,58,945/- due from 05.07.2019. The Operational Creditor supplied construction materials to the Corporate Debtor between May 2016 and October 2018. The Operational Creditor raised 58 invoices, out of which the Corporate Debtor cleared payment for about 27 invoices with some delay. The Corporate Debtor issued post-dated cheques aggregating to Rs. 19,14,024/- which were later dishonored with the remark 'Payment Stopped by Drawer'. The Operational
…The Insolven…
Rule 6 of the Insolvency and Bankruptcy…