The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Tremco India Private Limited (Operational Creditor) against Kaskal Facade Private Limited (Corporate Debtor). The Operational Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a default in payment for goods supplied. The Corporate Debtor is a private company limited by shares, incorporated on 02.06.2016. The Operational Creditor claimed a default of ₹16,64,563.17 as principal and ₹1,98,083.00 as interest as on 26.01.2019.
Tremco India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kaskal Facade Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is in the business of selling roofing materials, construction sealants, glazing, gaskets, and waterproofing systems. The Corporate Debtor approached the Operational Creditor and placed purchase orders for glazing materials between 11.08.2018 and 11.01.2019, totaling ₹16,64,536.17. The Operational Creditor supplied the goods, and invoices were raised. Payments were to be made within sixty days, but the Corporate Debtor failed to pay despite reminders. As of 26.01.2019, the outstanding
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The Corporate Debtor placed purchase orders…
The Corporate Debtor placed purchase orders…
The case pertains to a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Tremco India Private Limited (Operational Creditor) against Kaskal Facade Private Limited (Corporate Debtor). The Operational Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a default in payment for goods supplied. The Corporate Debtor is a private company limited by shares, incorporated on 02.06.2016. The Operational Creditor claimed a default of ₹16,64,563.17 as principal and ₹1,98,083.00 as interest as on 26.01.2019.
Tremco India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kaskal Facade Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is in the business of selling roofing materials, construction sealants, glazing, gaskets, and waterproofing systems. The Corporate Debtor approached the Operational Creditor and placed purchase orders for glazing materials between 11.08.2018 and 11.01.2019, totaling ₹16,64,536.17. The Operational Creditor supplied the goods, and invoices were raised. Payments were to be made within sixty days, but the Corporate Debtor failed to pay despite reminders. As of 26.01.2019, the outstanding
…The Corporate Debtor placed purchase orders…
The Corporate Debtor placed purchase orders…