SoftwareONE India Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Emkor Solutions Limited, the respondent corporate debtor. The applicant claimed that sales were made to the respondent with a 60-day credit period, and despite reminders, a sum of Rs. 13,48,256/- remained outstanding. The applicant had previously filed a winding-up petition before the High Court of Delhi, which was later withdrawn with the liberty to file an application under the IBC. A demand notice under Section 8 of the Code was sent to the respondent.
SoftwareONE India Pvt. Ltd. (the applicant) claimed that it made sales to Emkor Solutions Limited (the respondent) with a 60-day credit period. Invoices were raised in July and August 2014. Despite reminders, Rs. 13,48,256/- remained outstanding. The applicant sent a legal notice under Section 433(e) and 434(1)(a) read with Section 439(1)(b) of the Companies Act, 1956, and filed a winding-up petition (Co.Pet. no. 633 of 2016) before the High Court of Delhi, which was later withdrawn. A demand notice under Section 8 of the IBC was sent on 2017-04-25. The respondent argued that the bank letter dated 2017-09-01, issued under Section 9(3)(c) of the Code, was defective. The respondent also claimed to have made legitimate payments between August 2015 and August 2017, which
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SoftwareONE India Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Emkor Solutions Limited, the respondent corporate debtor. The applicant claimed that sales were made to the respondent with a 60-day credit period, and despite reminders, a sum of Rs. 13,48,256/- remained outstanding. The applicant had previously filed a winding-up petition before the High Court of Delhi, which was later withdrawn with the liberty to file an application under the IBC. A demand notice under Section 8 of the Code was sent to the respondent.
SoftwareONE India Pvt. Ltd. (the applicant) claimed that it made sales to Emkor Solutions Limited (the respondent) with a 60-day credit period. Invoices were raised in July and August 2014. Despite reminders, Rs. 13,48,256/- remained outstanding. The applicant sent a legal notice under Section 433(e) and 434(1)(a) read with Section 439(1)(b) of the Companies Act, 1956, and filed a winding-up petition (Co.Pet. no. 633 of 2016) before the High Court of Delhi, which was later withdrawn. A demand notice under Section 8 of the IBC was sent on 2017-04-25. The respondent argued that the bank letter dated 2017-09-01, issued under Section 9(3)(c) of the Code, was defective. The respondent also claimed to have made legitimate payments between August 2015 and August 2017, which
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