The case involves an application filed by M/s. Rahul Engineers, an Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code), against M/s. Ferrox Chemicals Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of ₹21,11,187/- including interest. The Corporate Debtor contested the application, alleging non-receipt of goods and an inflated invoice amount. The NCLT considered the submissions and evidence presented by the Operational Creditor.
M/s. Rahul Engineers, the Operational Creditor, filed an application under Section 9 of the I&B Code against M/s. Ferrox Chemicals Private Limited, the Corporate Debtor, for initiating CIRP due to a default of ₹21,11,187/-. The default arose from the non-payment of an invoice for a 'Distillation Column (2KL) Complete set' supplied by the Operational Creditor based on a purchase order dated 03.01.2018. An invoice was raised on 04.04.2018. The Corporate Debtor issued a cheque of ₹5,00,000/- towards part payment, which was dishonored. The Operational Creditor issued a demand notice on 18.09.2018. The Corporate Debtor, in its email dated 25.09.2018, claimed that the goods were not unloaded at its site and requested the Operational Creditor to take back the distillation
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Purchase Order issued…
Invoice raised by…
The case involves an application filed by M/s. Rahul Engineers, an Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code), against M/s. Ferrox Chemicals Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of ₹21,11,187/- including interest. The Corporate Debtor contested the application, alleging non-receipt of goods and an inflated invoice amount. The NCLT considered the submissions and evidence presented by the Operational Creditor.
M/s. Rahul Engineers, the Operational Creditor, filed an application under Section 9 of the I&B Code against M/s. Ferrox Chemicals Private Limited, the Corporate Debtor, for initiating CIRP due to a default of ₹21,11,187/-. The default arose from the non-payment of an invoice for a 'Distillation Column (2KL) Complete set' supplied by the Operational Creditor based on a purchase order dated 03.01.2018. An invoice was raised on 04.04.2018. The Corporate Debtor issued a cheque of ₹5,00,000/- towards part payment, which was dishonored. The Operational Creditor issued a demand notice on 18.09.2018. The Corporate Debtor, in its email dated 25.09.2018, claimed that the goods were not unloaded at its site and requested the Operational Creditor to take back the distillation
…Purchase Order issued…
Invoice raised by…