The case pertains to an application filed by Gandhar Oil Refinery India Ltd, the Operational Creditor, against Friends Auto (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiation of the Corporate Insolvency Resolution Process (CIRP) due to non-payment of dues. The Operational Creditor claimed a principal sum of Rs. 35,05,959/- along with interest of Rs. 12,91,620/-, aggregating to Rs. 47,97,579/-. The application was based on purchase orders for goods supplied to the Corporate Debtor, with details of unpaid invoices provided. Despite repeated demands, payments were not made. The Corporate Debtor was exploring settlement, but it did not materialize. The Corporate Debtor also submitted post-dated cheques
…Gandhar Oil Refinery India Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Friends Auto (India) Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The claim was for unpaid dues amounting to Rs. 35,05,959/- as principal and Rs. 12,91,620/- as interest, totaling Rs. 47,97,579/-. The claim arose from the supply of goods based on purchase orders raised by the Corporate Debtor. The Operational Creditor provided details of unpaid invoices. Despite repeated demands, the Corporate Debtor failed to make payments. A demand notice was issued on February 20, 2018. The Corporate Debtor explored settlement but it did not materialize due to non-payment of interest.
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The case pertains to an application filed by Gandhar Oil Refinery India Ltd, the Operational Creditor, against Friends Auto (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiation of the Corporate Insolvency Resolution Process (CIRP) due to non-payment of dues. The Operational Creditor claimed a principal sum of Rs. 35,05,959/- along with interest of Rs. 12,91,620/-, aggregating to Rs. 47,97,579/-. The application was based on purchase orders for goods supplied to the Corporate Debtor, with details of unpaid invoices provided. Despite repeated demands, payments were not made. The Corporate Debtor was exploring settlement, but it did not materialize. The Corporate Debtor also submitted post-dated cheques
…Gandhar Oil Refinery India Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Friends Auto (India) Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The claim was for unpaid dues amounting to Rs. 35,05,959/- as principal and Rs. 12,91,620/- as interest, totaling Rs. 47,97,579/-. The claim arose from the supply of goods based on purchase orders raised by the Corporate Debtor. The Operational Creditor provided details of unpaid invoices. Despite repeated demands, the Corporate Debtor failed to make payments. A demand notice was issued on February 20, 2018. The Corporate Debtor explored settlement but it did not materialize due to non-payment of interest.
…The petitioner issued a…
Cheques issued by the…