The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Docking and Engineering Co. (VSP) Private Limited, an operational creditor, against Kei-Rsos Maritime Limited, the corporate debtor, for failure to repay an operational debt. The operational creditor provided dry dock repair services to the corporate debtor based on two work orders issued in 2015. After completing the work, invoices were raised in 2016. The corporate debtor made a partial payment in 2017 but failed to clear the remaining dues, leading to the issuance of a demand notice by the operational creditor in 2018. The operational creditor then filed the present petition in 2019.
Docking and Engineering Co. (VSP) Private Limited (the operational creditor) provided dry dock repair services to Kei-Rsos Maritime Limited (the corporate debtor) based on two work orders issued on 18.05.2015 (amounting to ₹47,38,985.69) and 20.08.2015 (amounting to ₹4,05,148). Upon completion of the work, the operational creditor raised invoices No.170001 and 170002 dated 22.04.2016. The corporate debtor made a partial payment of ₹21,00,000 on 06.04.2017 but did not clear the remaining dues. The operational creditor issued a demand notice under Section 8 of the IBC on 12.11.2018, which was served on 16.11.2018. The operational creditor filed a petition on 09.01.2019, claiming a total default of ₹45,44,928.93, including interest at 18% amounting to ₹15,47,018.24. The
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The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Docking and Engineering Co. (VSP) Private Limited, an operational creditor, against Kei-Rsos Maritime Limited, the corporate debtor, for failure to repay an operational debt. The operational creditor provided dry dock repair services to the corporate debtor based on two work orders issued in 2015. After completing the work, invoices were raised in 2016. The corporate debtor made a partial payment in 2017 but failed to clear the remaining dues, leading to the issuance of a demand notice by the operational creditor in 2018. The operational creditor then filed the present petition in 2019.
Docking and Engineering Co. (VSP) Private Limited (the operational creditor) provided dry dock repair services to Kei-Rsos Maritime Limited (the corporate debtor) based on two work orders issued on 18.05.2015 (amounting to ₹47,38,985.69) and 20.08.2015 (amounting to ₹4,05,148). Upon completion of the work, the operational creditor raised invoices No.170001 and 170002 dated 22.04.2016. The corporate debtor made a partial payment of ₹21,00,000 on 06.04.2017 but did not clear the remaining dues. The operational creditor issued a demand notice under Section 8 of the IBC on 12.11.2018, which was served on 16.11.2018. The operational creditor filed a petition on 09.01.2019, claiming a total default of ₹45,44,928.93, including interest at 18% amounting to ₹15,47,018.24. The
…Respondent issued a…
Respondent issued a…