The case involves a Company Application filed by Arham Iron & Steel Industries (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Lahari Infra Projects (India) Private Limited (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor defaulted on payments for the supply of iron and steel.
Arham Iron & Steel Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Lahari Infra Projects (India) Private Limited (Corporate Debtor) for defaulting on payments for supplied iron and steel. The Operational Creditor claimed that it supplied TMT Rebar of various dimensions to the Corporate Debtor, with a principal amount of Rs. 73,79,129.20 and total interest amounts of Rs. 4,50,439.86, resulting in a total due of Rs. 79,10,648.23. The Operational Creditor issued a Demand Notice on 21.01.2020, which was delivered on 22.01.2020. The Corporate Debtor issued post-dated cheques, which were later dishonored. The Corporate Debtor claimed that the supplied material was of inferior quality and that
…Sign in to view the parties.
The Operational Creditor issued a Demand…
The Demand Notice was…
The case involves a Company Application filed by Arham Iron & Steel Industries (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Lahari Infra Projects (India) Private Limited (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor defaulted on payments for the supply of iron and steel.
Arham Iron & Steel Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Lahari Infra Projects (India) Private Limited (Corporate Debtor) for defaulting on payments for supplied iron and steel. The Operational Creditor claimed that it supplied TMT Rebar of various dimensions to the Corporate Debtor, with a principal amount of Rs. 73,79,129.20 and total interest amounts of Rs. 4,50,439.86, resulting in a total due of Rs. 79,10,648.23. The Operational Creditor issued a Demand Notice on 21.01.2020, which was delivered on 22.01.2020. The Corporate Debtor issued post-dated cheques, which were later dishonored. The Corporate Debtor claimed that the supplied material was of inferior quality and that
…The Operational Creditor issued a Demand…
The Demand Notice was…