The Operational Creditor, M/S SHIP YARD CO., filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor, M/S G.R.S. ISPAT COMPANY (PVT.) LTD. The Operational Creditor is in the business of scrap materials, while the Corporate Debtor manufactures mile steel billts. The Corporate Debtor approached the Operational Creditor for the supply of TMT BAR CUTTINGS-HSN/SAC/ goods. The Operational Creditor supplied goods/material worth Rs. 2,09,86,645/- on 2018-03-31. The Corporate Debtor made a part payment of Rs. 4,00,000/- on 2018-12-27. Despite repeated requests, the Corporate Debtor failed to reduce the outstanding liability. The Operational Creditor served a demand notice dated 2019-08-12.
M/S SHIP YARD CO., the Operational Creditor, is in the business of scrap materials. M/S G.R.S. ISPAT COMPANY (PVT.) LTD., the Corporate Debtor, manufactures mile steel billts. The Corporate Debtor approached the Operational Creditor for the supply of TMT BAR CUTTINGS-HSN/SAC/ goods. The Operational Creditor supplied goods/material worth Rs. 2,09,86,645/- to the Corporate Debtor on 2018-03-31. The Corporate Debtor made a part payment of Rs. 4,00,000/- on 2018-12-27. The Operational Creditor served a demand notice dated 2019-08-12 under Rule 5 of Insolvency and Bankruptcy Rules demanding the remaining outstanding amount of Rs. 2,05,86,645/-. The Corporate Debtor issued a letter dated 2019-08-21 acknowledging the debt and requested further time to make the payment due to
…Sign in to view the parties.
The Operational Creditor supplied goods/material…
The Corporate Debtor…
The Operational Creditor, M/S SHIP YARD CO., filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor, M/S G.R.S. ISPAT COMPANY (PVT.) LTD. The Operational Creditor is in the business of scrap materials, while the Corporate Debtor manufactures mile steel billts. The Corporate Debtor approached the Operational Creditor for the supply of TMT BAR CUTTINGS-HSN/SAC/ goods. The Operational Creditor supplied goods/material worth Rs. 2,09,86,645/- on 2018-03-31. The Corporate Debtor made a part payment of Rs. 4,00,000/- on 2018-12-27. Despite repeated requests, the Corporate Debtor failed to reduce the outstanding liability. The Operational Creditor served a demand notice dated 2019-08-12.
M/S SHIP YARD CO., the Operational Creditor, is in the business of scrap materials. M/S G.R.S. ISPAT COMPANY (PVT.) LTD., the Corporate Debtor, manufactures mile steel billts. The Corporate Debtor approached the Operational Creditor for the supply of TMT BAR CUTTINGS-HSN/SAC/ goods. The Operational Creditor supplied goods/material worth Rs. 2,09,86,645/- to the Corporate Debtor on 2018-03-31. The Corporate Debtor made a part payment of Rs. 4,00,000/- on 2018-12-27. The Operational Creditor served a demand notice dated 2019-08-12 under Rule 5 of Insolvency and Bankruptcy Rules demanding the remaining outstanding amount of Rs. 2,05,86,645/-. The Corporate Debtor issued a letter dated 2019-08-21 acknowledging the debt and requested further time to make the payment due to
…The Operational Creditor supplied goods/material…
The Corporate Debtor…