Ogota Motors Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Falcon Auto Engineering Private Limited, citing a default amount of Rs. 3,47,05,653/- with the date of default being 25.10.2023.
Ogota Motors Private Limited (Operational Creditor) supplied goods worth Rs. 15,12,48,440/- to Falcon Auto Engineering Private Limited (Corporate Debtor).
Falcon Auto Engineering Private Limited paid Rs. 11,65,42,786/-, leaving an outstanding amount of Rs. 3,47,05,653/- as of 24/06/2024.
Ogota Motors Private Limited issued a statutory demand notice dated 24.06.2024 to Falcon Auto Engineering Private Limited.
Falcon Auto Engineering Private Limited failed to respond to the demand notice or raise any pre-existing dispute.
The default amount exceeds the threshold limit of Rs. 1 crore as per Section 4 of the IBC.
The application was filed within the limitation period.
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The date on which Falcon Auto Engineering…
Ogota Motors Private Limited issued a statutory…
Ogota Motors Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Falcon Auto Engineering Private Limited, citing a default amount of Rs. 3,47,05,653/- with the date of default being 25.10.2023.
Ogota Motors Private Limited (Operational Creditor) supplied goods worth Rs. 15,12,48,440/- to Falcon Auto Engineering Private Limited (Corporate Debtor).
Falcon Auto Engineering Private Limited paid Rs. 11,65,42,786/-, leaving an outstanding amount of Rs. 3,47,05,653/- as of 24/06/2024.
Ogota Motors Private Limited issued a statutory demand notice dated 24.06.2024 to Falcon Auto Engineering Private Limited.
Falcon Auto Engineering Private Limited failed to respond to the demand notice or raise any pre-existing dispute.
The default amount exceeds the threshold limit of Rs. 1 crore as per Section 4 of the IBC.
The application was filed within the limitation period.
The date on which Falcon Auto Engineering…
Ogota Motors Private Limited issued a statutory…