The case pertains to a Company Petition filed by Shree Balaji Metal & Alloys against Electra Global Resources Private Limited under Section 8 & 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner alleges that the corporate debtor defaulted in making payment of ₹2,76,59,878/-.
Shree Balaji Metal & Alloys (Petitioner) filed a Company Petition against Electra Global Resources Private Limited (Corporate Debtor) under Section 8 & 9 of the IBC, 2016. The petitioner claimed that the corporate debtor defaulted in making payment of ₹2,76,59,878/-, invoking provisions of Section 8 and 9 of the Insolvency & Bankruptcy Code. The petitioner supplied goods to the corporate debtor and raised invoices, with an outstanding principal amount of ₹2,51,10,726/-. The petitioner issued a demand notice on 2019-01-15. The corporate debtor acknowledged the principal debt but disputed the interest. The petitioner agreed to waive the interest claim.
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The Petitioner issued a Demand Notice in Form…
During the hearing, the Counsel for the…
The case pertains to a Company Petition filed by Shree Balaji Metal & Alloys against Electra Global Resources Private Limited under Section 8 & 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner alleges that the corporate debtor defaulted in making payment of ₹2,76,59,878/-.
Shree Balaji Metal & Alloys (Petitioner) filed a Company Petition against Electra Global Resources Private Limited (Corporate Debtor) under Section 8 & 9 of the IBC, 2016. The petitioner claimed that the corporate debtor defaulted in making payment of ₹2,76,59,878/-, invoking provisions of Section 8 and 9 of the Insolvency & Bankruptcy Code. The petitioner supplied goods to the corporate debtor and raised invoices, with an outstanding principal amount of ₹2,51,10,726/-. The petitioner issued a demand notice on 2019-01-15. The corporate debtor acknowledged the principal debt but disputed the interest. The petitioner agreed to waive the interest claim.
The Petitioner issued a Demand Notice in Form…
During the hearing, the Counsel for the…