The case involves an application filed by Shree Associates, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against KS Softnet Solutions Private Limited, the corporate debtor. Shree Associates alleged that KS Softnet Solutions defaulted on a payment of Rs. 2,12,704 with 18% interest per annum from the date of default. The petitioner supplied tiles/kerbs manufactured by them at the instance of the Corporate Debtor and invoices were raised during the period between 01/12/2013 to 01/12/2014 to the extent of Rs. 13,52,328/- and TDS of Rs. 14,025/- was deducted and deposited with the Income Tax department. The Corporate debtor made the payment of Rs.11,39,625/- till 16/04/2016 and Rs.2,12,104/- is due from the Corporate Debtor. It is
…Shree Associates, an operational creditor, filed a petition against KS Softnet Solutions Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 2,12,704/- with 18% interest. Shree Associates supplied tiles/kerbs to KS Softnet Solutions between 01/12/2013 and 01/12/2014, raising invoices totaling Rs. 13,52,328/-. TDS of Rs. 14,025/- was deducted and deposited. KS Softnet Solutions made payments totaling Rs. 11,39,625/- until 16/04/2016, and a further payment of Rs. 37,000/- on 16/04/2016 via NEFT. A statutory notice was issued on 25/09/2016 under the Companies Act, 2013, demanding the outstanding amount. The petition was filed on 16/01/2019. The corporate debtor did not have any representation despite
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KS Softnet Solutions…
Shree Associates supplied tiles/kerbs to KS…
The case involves an application filed by Shree Associates, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against KS Softnet Solutions Private Limited, the corporate debtor. Shree Associates alleged that KS Softnet Solutions defaulted on a payment of Rs. 2,12,704 with 18% interest per annum from the date of default. The petitioner supplied tiles/kerbs manufactured by them at the instance of the Corporate Debtor and invoices were raised during the period between 01/12/2013 to 01/12/2014 to the extent of Rs. 13,52,328/- and TDS of Rs. 14,025/- was deducted and deposited with the Income Tax department. The Corporate debtor made the payment of Rs.11,39,625/- till 16/04/2016 and Rs.2,12,104/- is due from the Corporate Debtor. It is
…Shree Associates, an operational creditor, filed a petition against KS Softnet Solutions Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 2,12,704/- with 18% interest. Shree Associates supplied tiles/kerbs to KS Softnet Solutions between 01/12/2013 and 01/12/2014, raising invoices totaling Rs. 13,52,328/-. TDS of Rs. 14,025/- was deducted and deposited. KS Softnet Solutions made payments totaling Rs. 11,39,625/- until 16/04/2016, and a further payment of Rs. 37,000/- on 16/04/2016 via NEFT. A statutory notice was issued on 25/09/2016 under the Companies Act, 2013, demanding the outstanding amount. The petition was filed on 16/01/2019. The corporate debtor did not have any representation despite
…KS Softnet Solutions…
Shree Associates supplied tiles/kerbs to KS…