Bigbloc Construction Limited filed a Company Petition under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited. The petition alleges that Kruti Infracons defaulted on a payment of Rs. 4,99,916.65, which includes interest calculated at 24% p.a. up to March 29, 2019. The petitioner sold AAC Blocks to the corporate debtor between July 2016 and February 2018, raising invoices for the same. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors, with one being served and the other returned due to an expired validity period. The petitioner was permitted
…Bigbloc Construction Limited (Petitioner) sought to initiate Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited (Corporate Debtor) under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016. The Petitioner claimed that the Corporate Debtor defaulted on a payment of Rs. 4,99,916.65, including interest calculated at 24% p.a. up to March 29, 2019. The debt arose from the sale of AAC Blocks by the Petitioner to the Corporate Debtor between July 2016 and February 2018, for which invoices were raised. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors of the Corporate Debtor, with one being served and the other returned due to
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Petitioner sold AAC Blocks and raised invoices…
Petitioner sold AAC Blocks and raised invoices…
Bigbloc Construction Limited filed a Company Petition under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited. The petition alleges that Kruti Infracons defaulted on a payment of Rs. 4,99,916.65, which includes interest calculated at 24% p.a. up to March 29, 2019. The petitioner sold AAC Blocks to the corporate debtor between July 2016 and February 2018, raising invoices for the same. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors, with one being served and the other returned due to an expired validity period. The petitioner was permitted
…Bigbloc Construction Limited (Petitioner) sought to initiate Corporate Insolvency Resolution Process (CIRP) against Kruti Infracons Private Limited (Corporate Debtor) under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016. The Petitioner claimed that the Corporate Debtor defaulted on a payment of Rs. 4,99,916.65, including interest calculated at 24% p.a. up to March 29, 2019. The debt arose from the sale of AAC Blocks by the Petitioner to the Corporate Debtor between July 2016 and February 2018, for which invoices were raised. A demand notice was issued on January 21, 2019, but was returned undelivered due to an insufficient address. Subsequently, notices were sent to the directors of the Corporate Debtor, with one being served and the other returned due to
…Petitioner sold AAC Blocks and raised invoices…
Petitioner sold AAC Blocks and raised invoices…