The case involves an application filed by Nuvoco Vistas Corporation Limited (the Petitioner), an operational creditor, against Ishavashyam Infra LLP (the Respondent), the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition seeks to initiate the Corporate Insolvency Resolution Process (CIRP) for the recovery of unpaid operational debt. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC), which was supplied between September and October 2015. The Respondent failed to make payments as per the agreed terms, leading to the filing of this petition.
Nuvoco Vistas Corporation Limited (formerly Lafarge India Limited) is an operational creditor engaged in the business of manufacturing and selling cement and related products. Ishavashyam Infra LLP is the corporate debtor. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC) to be delivered at the Applicant's site. Purchase orders were placed on 01.09.2015 and 01.10.2015, with a payment condition of 15 days from the date of supply. The Applicant supplied RMC between September and October 2015, and delivery challans were duly signed and acknowledged by the Respondent. The Respondent accepted the RMC without protest, indicating it met the required quality and specifications. The Respondent issued a cheque for Rs.14,40,000/- dated
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Ishavashyam Infra LLP…
Respondent placed…
The case involves an application filed by Nuvoco Vistas Corporation Limited (the Petitioner), an operational creditor, against Ishavashyam Infra LLP (the Respondent), the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition seeks to initiate the Corporate Insolvency Resolution Process (CIRP) for the recovery of unpaid operational debt. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC), which was supplied between September and October 2015. The Respondent failed to make payments as per the agreed terms, leading to the filing of this petition.
Nuvoco Vistas Corporation Limited (formerly Lafarge India Limited) is an operational creditor engaged in the business of manufacturing and selling cement and related products. Ishavashyam Infra LLP is the corporate debtor. The Respondent approached the Applicant for the purchase of Ready Mix Concrete (RMC) to be delivered at the Applicant's site. Purchase orders were placed on 01.09.2015 and 01.10.2015, with a payment condition of 15 days from the date of supply. The Applicant supplied RMC between September and October 2015, and delivery challans were duly signed and acknowledged by the Respondent. The Respondent accepted the RMC without protest, indicating it met the required quality and specifications. The Respondent issued a cheque for Rs.14,40,000/- dated
…Ishavashyam Infra LLP…
Respondent placed…