Metenere Limited, claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against K N Trading PVT. LTD., the corporate debtor, for its inability to liquidate a claim of Rs. 88,90,87,767.03 inclusive of interest. The operational debt allegedly arose from the supply of lead and unwrought aluminum by Metenere Limited to K N Trading PVT. LTD. between 21.02.2017 and 31.03.2017. A demand notice was issued under Section 8 of the Code on 27.09.2019.
Metenere Limited (the applicant), claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against K N Trading PVT. LTD. (the corporate debtor). The alleged operational debt amounted to Rs. 88,90,87,767.03 inclusive of interest, arising from the supply of lead and unwrought aluminum between 21.02.2017 and 31.03.2017. A demand notice was issued on 27.09.2019. K N Trading PVT. LTD. disputed the debt, claiming no privity of contract and alleging false invoices. The applicant was given multiple opportunities to file a rejoinder to prove its claim and establish a valid contract, but failed to do so and was also absent at the hearing. The date of
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Metenere Limited, claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against K N Trading PVT. LTD., the corporate debtor, for its inability to liquidate a claim of Rs. 88,90,87,767.03 inclusive of interest. The operational debt allegedly arose from the supply of lead and unwrought aluminum by Metenere Limited to K N Trading PVT. LTD. between 21.02.2017 and 31.03.2017. A demand notice was issued under Section 8 of the Code on 27.09.2019.
Metenere Limited (the applicant), claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against K N Trading PVT. LTD. (the corporate debtor). The alleged operational debt amounted to Rs. 88,90,87,767.03 inclusive of interest, arising from the supply of lead and unwrought aluminum between 21.02.2017 and 31.03.2017. A demand notice was issued on 27.09.2019. K N Trading PVT. LTD. disputed the debt, claiming no privity of contract and alleging false invoices. The applicant was given multiple opportunities to file a rejoinder to prove its claim and establish a valid contract, but failed to do so and was also absent at the hearing. The date of
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The date of default is…