The case involves an application filed by Super Smelters Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electro Poles Products Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleged that the Corporate Debtor defaulted in making payment of Rs. 9,79,752/-. The Corporate Debtor purchased raw materials (MS Black Pipe) from the Operational Creditor, who supplied goods as per invoices dated 09.04.2016, 23.04.2016, 09.05.2016, and 17.05.2016. The Corporate Debtor made a part payment of Rs. 3,92,540/-, leaving an outstanding amount of Rs. 14,12,200/-. The Operational Creditor claimed interest due to the Corporate Debtor's failure to make
…Super Smelters Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electro Poles Products Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 9,79,752/-. The Corporate Debtor purchased raw materials from the Operational Creditor, who supplied goods based on invoices from April and May 2016. The Corporate Debtor made a partial payment of Rs. 3,92,540/-, leaving an outstanding amount of Rs. 14,12,200/-. The Operational Creditor claimed interest due to late payments. Some goods were allegedly defective and lifted by the Operational Creditor, with their value (Rs. 6,32,448.63) adjusted. After adjustments, Rs. 9,79,752/- remained outstanding. A part payment of Rs. 2,00,000/- was made on
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One of the invoice dates for goods supplied by…
One of the invoice dates for goods supplied by…
The case involves an application filed by Super Smelters Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electro Poles Products Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleged that the Corporate Debtor defaulted in making payment of Rs. 9,79,752/-. The Corporate Debtor purchased raw materials (MS Black Pipe) from the Operational Creditor, who supplied goods as per invoices dated 09.04.2016, 23.04.2016, 09.05.2016, and 17.05.2016. The Corporate Debtor made a part payment of Rs. 3,92,540/-, leaving an outstanding amount of Rs. 14,12,200/-. The Operational Creditor claimed interest due to the Corporate Debtor's failure to make
…Super Smelters Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Electro Poles Products Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 9,79,752/-. The Corporate Debtor purchased raw materials from the Operational Creditor, who supplied goods based on invoices from April and May 2016. The Corporate Debtor made a partial payment of Rs. 3,92,540/-, leaving an outstanding amount of Rs. 14,12,200/-. The Operational Creditor claimed interest due to late payments. Some goods were allegedly defective and lifted by the Operational Creditor, with their value (Rs. 6,32,448.63) adjusted. After adjustments, Rs. 9,79,752/- remained outstanding. A part payment of Rs. 2,00,000/- was made on
…One of the invoice dates for goods supplied by…
One of the invoice dates for goods supplied by…