The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mr. Subhash Chandra Goyal, the sole proprietor of M/s Goyal Enterprises, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s KB Ispat Private Limited, for a default amount of Rs. 26,89,290. The Operational Creditor claimed to have business relations with the Corporate Debtor since September 2018, delivering 42 consignments with invoices ranging from Rs. 5 to 12 lakh each. The Corporate Debtor raised three debit notes against these invoices, claiming a total of Rs. 3,32,459 from the Operational Creditor. The Operational Creditor argued that these debit notes were merely to show a pre-existing dispute without
…Mr. Subhash Chandra Goyal, the sole proprietor of M/s Goyal Enterprises (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s KB Ispat Private Limited (Corporate Debtor) for a default of Rs. 26,89,290. The Operational Creditor claimed to have supplied 42 consignments to the Corporate Debtor since September 2018, with invoices totaling between Rs. 5 to 12 lakh each. Three invoices amounting to Rs. 26,89,290 remained unpaid. The Corporate Debtor raised three debit notes against these invoices, claiming Rs. 3,32,459 from the Operational Creditor. A demand notice was issued on 01.07.2019 and received by the Corporate Debtor on 06.07.2019, but no
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Operational Creditor…
Commissioner of Central Goods Service Tax and…
The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mr. Subhash Chandra Goyal, the sole proprietor of M/s Goyal Enterprises, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s KB Ispat Private Limited, for a default amount of Rs. 26,89,290. The Operational Creditor claimed to have business relations with the Corporate Debtor since September 2018, delivering 42 consignments with invoices ranging from Rs. 5 to 12 lakh each. The Corporate Debtor raised three debit notes against these invoices, claiming a total of Rs. 3,32,459 from the Operational Creditor. The Operational Creditor argued that these debit notes were merely to show a pre-existing dispute without
…Mr. Subhash Chandra Goyal, the sole proprietor of M/s Goyal Enterprises (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s KB Ispat Private Limited (Corporate Debtor) for a default of Rs. 26,89,290. The Operational Creditor claimed to have supplied 42 consignments to the Corporate Debtor since September 2018, with invoices totaling between Rs. 5 to 12 lakh each. Three invoices amounting to Rs. 26,89,290 remained unpaid. The Corporate Debtor raised three debit notes against these invoices, claiming Rs. 3,32,459 from the Operational Creditor. A demand notice was issued on 01.07.2019 and received by the Corporate Debtor on 06.07.2019, but no
…Operational Creditor…
Commissioner of Central Goods Service Tax and…