Next Step Engineering Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Interspace Solutions Private Limited, alleging default in payment. The petition seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against Interspace Solutions Private Limited.
Next Step Engineering Private Limited (Petitioner) filed a petition against Interspace Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging a default of Rs. 22,84,814/-. The Petitioner supplied and installed 10 units of Nerolac Counter System Fixtures (NCS) for the Corporate Debtor, raising invoices totaling Rs. 65,66,817/-, including installation service charges of Rs. 1,48,680/-. The Petitioner received an advance payment of Rs. 2,00,000/- on 07.10.2017 and a part-payment of Rs. 9,98,460/- on 05.12.2017. The Corporate Debtor issued three cheques dated 24.11.2017, 27.11.2017, and 29.11.2017, which were returned unpaid with the endorsement 'payment stopped by drawer'. The Petitioner issued a demand notice on
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Petitioner received an…
Petitioner received a…
Next Step Engineering Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Interspace Solutions Private Limited, alleging default in payment. The petition seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against Interspace Solutions Private Limited.
Next Step Engineering Private Limited (Petitioner) filed a petition against Interspace Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging a default of Rs. 22,84,814/-. The Petitioner supplied and installed 10 units of Nerolac Counter System Fixtures (NCS) for the Corporate Debtor, raising invoices totaling Rs. 65,66,817/-, including installation service charges of Rs. 1,48,680/-. The Petitioner received an advance payment of Rs. 2,00,000/- on 07.10.2017 and a part-payment of Rs. 9,98,460/- on 05.12.2017. The Corporate Debtor issued three cheques dated 24.11.2017, 27.11.2017, and 29.11.2017, which were returned unpaid with the endorsement 'payment stopped by drawer'. The Petitioner issued a demand notice on
…Petitioner received an…
Petitioner received a…