The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Creative Enterprises, an operational creditor, against KRP Infrastructures & Builders Private Limited, the corporate debtor. The operational creditor supplied ready-mix concrete materials and pumping services to the corporate debtor, for which an amount of Rs. 17,32,775/- was debited. The corporate debtor issued four cheques to settle the outstanding amount, but these were dishonored due to 'Insufficient fund'.
M/s Creative Enterprises (operational creditor) supplied ready-mix concrete materials and pumping services to KRP Infrastructures & Builders Private Limited (corporate debtor). The amount debited for these services was Rs. 17,32,775, verified from the operational creditor's ledger. The corporate debtor issued four cheques dated 06.06.2018 to settle the debt, but they were dishonored due to 'Insufficient fund'. The operational creditor issued a demand notice on 12.09.2018, claiming Rs. 17,32,775 plus interest of Rs. 2,32,615, served to the corporate debtor's registered office and via email on 19.09.2018. The corporate debtor acknowledged the debt by offering cheques. The corporate debtor failed to liquidate its liability, leading the operational creditor to file a
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Corporate debtor issued…
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The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Creative Enterprises, an operational creditor, against KRP Infrastructures & Builders Private Limited, the corporate debtor. The operational creditor supplied ready-mix concrete materials and pumping services to the corporate debtor, for which an amount of Rs. 17,32,775/- was debited. The corporate debtor issued four cheques to settle the outstanding amount, but these were dishonored due to 'Insufficient fund'.
M/s Creative Enterprises (operational creditor) supplied ready-mix concrete materials and pumping services to KRP Infrastructures & Builders Private Limited (corporate debtor). The amount debited for these services was Rs. 17,32,775, verified from the operational creditor's ledger. The corporate debtor issued four cheques dated 06.06.2018 to settle the debt, but they were dishonored due to 'Insufficient fund'. The operational creditor issued a demand notice on 12.09.2018, claiming Rs. 17,32,775 plus interest of Rs. 2,32,615, served to the corporate debtor's registered office and via email on 19.09.2018. The corporate debtor acknowledged the debt by offering cheques. The corporate debtor failed to liquidate its liability, leading the operational creditor to file a
…Corporate debtor issued…
Operational creditor…