The case involves Accurate Engineering Group, an operational creditor, filing a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jekson Machinery Private Limited, the corporate debtor, for non-payment of outstanding dues. Accurate Engineering Group placed a purchase order with Jekson Machinery for a CNC Press Brake, paid an advance, but Jekson Machinery failed to deliver the machinery as per the agreed schedule. Despite reminders, Jekson Machinery failed to pay the outstanding dues, leading to the filing of the petition.
Accurate Engineering Group (operational creditor) placed a purchase order with Jekson Machinery Private Limited (corporate debtor) on 2019-03-12 for a CNC Press Brake, model JCPB-2026. The machinery was to be delivered by 2019-03-27. Accurate Engineering Group paid an advance of Rs. 12,00,000/- (60% of the total amount) on 2019-03-13, which was acknowledged by Jekson Machinery. Jekson Machinery failed to deliver the CNC Press Brake as per the schedule. On 2019-05-21, Jekson Machinery issued four post-dated cheques of Rs. 3,00,000/- each, dated 2019-05-30 and 2019-06-10, which were dishonored due to lack of funds. Accurate Engineering Group sent multiple reminders in July 2019 for the payment of outstanding dues of Rs. 12,00,000/-, but Jekson Machinery failed to pay. A
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Accurate Engineering Group placed a purchase…
Accurate Engineering…
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The case involves Accurate Engineering Group, an operational creditor, filing a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jekson Machinery Private Limited, the corporate debtor, for non-payment of outstanding dues. Accurate Engineering Group placed a purchase order with Jekson Machinery for a CNC Press Brake, paid an advance, but Jekson Machinery failed to deliver the machinery as per the agreed schedule. Despite reminders, Jekson Machinery failed to pay the outstanding dues, leading to the filing of the petition.
Accurate Engineering Group (operational creditor) placed a purchase order with Jekson Machinery Private Limited (corporate debtor) on 2019-03-12 for a CNC Press Brake, model JCPB-2026. The machinery was to be delivered by 2019-03-27. Accurate Engineering Group paid an advance of Rs. 12,00,000/- (60% of the total amount) on 2019-03-13, which was acknowledged by Jekson Machinery. Jekson Machinery failed to deliver the CNC Press Brake as per the schedule. On 2019-05-21, Jekson Machinery issued four post-dated cheques of Rs. 3,00,000/- each, dated 2019-05-30 and 2019-06-10, which were dishonored due to lack of funds. Accurate Engineering Group sent multiple reminders in July 2019 for the payment of outstanding dues of Rs. 12,00,000/-, but Jekson Machinery failed to pay. A
…Accurate Engineering Group placed a purchase…
Accurate Engineering…
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