The case involves an application filed by Poonam Kachalia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied under various purchase orders from 2013 to 2015. The Corporate Debtor acknowledged the debt but failed to make the outstanding payments.
Poonam Kachalia, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, the Corporate Debtor. The Operational Creditor supplied goods to the Corporate Debtor based on purchase orders placed between 2013 and 2015. The total value of goods supplied was Rs. 1,94,10,712.43, out of which Rs. 1,51,20,097.36 was paid by the Corporate Debtor in installments, with the last payment made on 13.04.2015. A principal sum of Rs. 42,90,719.85 remained unpaid. The Operational Creditor issued demand notices to the Corporate Debtor, who acknowledged the debt but failed to make the payment. The Corporate Debtor claimed that the demand notice
…Sign in to view the parties.
Hari Machines Limited placed several purchase…
The Corporate Debtor made the last payment…
The case involves an application filed by Poonam Kachalia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied under various purchase orders from 2013 to 2015. The Corporate Debtor acknowledged the debt but failed to make the outstanding payments.
Poonam Kachalia, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Hari Machines Limited, the Corporate Debtor. The Operational Creditor supplied goods to the Corporate Debtor based on purchase orders placed between 2013 and 2015. The total value of goods supplied was Rs. 1,94,10,712.43, out of which Rs. 1,51,20,097.36 was paid by the Corporate Debtor in installments, with the last payment made on 13.04.2015. A principal sum of Rs. 42,90,719.85 remained unpaid. The Operational Creditor issued demand notices to the Corporate Debtor, who acknowledged the debt but failed to make the payment. The Corporate Debtor claimed that the demand notice
…Hari Machines Limited placed several purchase…
The Corporate Debtor made the last payment…