The case involves a petition filed by M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied goods, amounting to Rs. 3,09,068/- including interest. The Corporate Debtor had been approached for the supply of Wielding wire, Lincoln EM wire and Lincoln Electric Saw between August and September 2017. The Corporate Debtor made partial payments, but a significant amount remained outstanding. The Operational Creditor issued a demand notice on April 26, 2019, which the Corporate Debtor
…M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) filed a petition against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, seeking to initiate CIRP. The Operational Creditor claimed a default of Rs. 3,09,068/-, including interest of Rs. 84,068/-, for goods supplied between August 9, 2017, and September 7, 2017. The goods included Wielding wire, Lincoln EM wire, and Lincoln Electric Saw. The Corporate Debtor made partial payments of Rs. 4,08,068/- against a total claim of Rs. 6,33,654/-. The Operational Creditor issued a demand notice on April 26, 2019, which was received by the Corporate Debtor on May 3, 2019. The Corporate Debtor did not respond to the demand notice. The invoices related
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M/s. Karthik Roofings &…
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The case involves a petition filed by M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied goods, amounting to Rs. 3,09,068/- including interest. The Corporate Debtor had been approached for the supply of Wielding wire, Lincoln EM wire and Lincoln Electric Saw between August and September 2017. The Corporate Debtor made partial payments, but a significant amount remained outstanding. The Operational Creditor issued a demand notice on April 26, 2019, which the Corporate Debtor
…M/s. Cotmac Industrial Trading Private Limited (Operational Creditor) filed a petition against M/s. Karthik Roofings & Structurals Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, seeking to initiate CIRP. The Operational Creditor claimed a default of Rs. 3,09,068/-, including interest of Rs. 84,068/-, for goods supplied between August 9, 2017, and September 7, 2017. The goods included Wielding wire, Lincoln EM wire, and Lincoln Electric Saw. The Corporate Debtor made partial payments of Rs. 4,08,068/- against a total claim of Rs. 6,33,654/-. The Operational Creditor issued a demand notice on April 26, 2019, which was received by the Corporate Debtor on May 3, 2019. The Corporate Debtor did not respond to the demand notice. The invoices related
…M/s. Karthik Roofings &…
The Operational…
Sign in to view related legal provisions.