Jet Roadlines (India) Pvt. Ltd., an operational creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 against EMCO Ltd., the corporate debtor, due to an outstanding operational debt of ₹62,20,321 plus interest of ₹15,69,492, totaling ₹77,89,813. The operational creditor is in the business of supporting and auxiliary transport activities, while the corporate debtor is involved in manufacturing electric motors, generators, and transformers. The debt fell due between 2016-11-22 and 2018-03-31. The operational creditor issued a demand notice on 2018-06-14 after the corporate debtor failed to pay the outstanding amount.
Jet Roadlines (India) Pvt. Ltd., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against EMCO Ltd., the corporate debtor, for an outstanding operational debt. The debt amounted to ₹62,20,321 plus interest of ₹15,69,492, totaling ₹77,89,813. Jet Roadlines is involved in supporting and auxiliary transport activities, while EMCO Ltd. manufactures electric motors, generators, and transformers. The debt fell due between 2016-11-22 and 2018-03-31. The operational creditor issued a demand notice in Form No.3 on 2018-06-14. EMCO Ltd. replied on 2018-06-22, stating that the claimed amount did not match their books of accounts. The operational creditor argued that the corporate debtor did not provide any elucidation
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Jet Roadlines (India) Pvt. Ltd., an operational creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 against EMCO Ltd., the corporate debtor, due to an outstanding operational debt of ₹62,20,321 plus interest of ₹15,69,492, totaling ₹77,89,813. The operational creditor is in the business of supporting and auxiliary transport activities, while the corporate debtor is involved in manufacturing electric motors, generators, and transformers. The debt fell due between 2016-11-22 and 2018-03-31. The operational creditor issued a demand notice on 2018-06-14 after the corporate debtor failed to pay the outstanding amount.
Jet Roadlines (India) Pvt. Ltd., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against EMCO Ltd., the corporate debtor, for an outstanding operational debt. The debt amounted to ₹62,20,321 plus interest of ₹15,69,492, totaling ₹77,89,813. Jet Roadlines is involved in supporting and auxiliary transport activities, while EMCO Ltd. manufactures electric motors, generators, and transformers. The debt fell due between 2016-11-22 and 2018-03-31. The operational creditor issued a demand notice in Form No.3 on 2018-06-14. EMCO Ltd. replied on 2018-06-22, stating that the claimed amount did not match their books of accounts. The operational creditor argued that the corporate debtor did not provide any elucidation
…The debt amount fell…
The debt amou…