The case involves an application filed by Shree Nakoda Ispat Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Laxmipati Balaji Infra Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on a payment of INR 43,26,641.00 for the supply of TMT bars. The application was filed due to the corporate debtor's failure to make payments despite repeated reminders and dishonoring of cheques issued for part payment.
Shree Nakoda Ispat Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Laxmipati Balaji Infra Private Limited, the corporate debtor. The operational creditor is a registered company engaged in the business of TMT bars. The corporate debtor was incorporated on 26.03.2015. The corporate debtor approached the operational creditor to purchase TMT bars of various sizes, and purchase orders were placed on 13.06.2017. The operational creditor supplied materials worth INR 43,26,641.00 to the corporate debtor between 21.06.2017 and 07.07.2017. The purchase orders specified a payment term of 45 days from the date of supply. The corporate debtor failed to make payments despite repeated
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The Applicant supplied materials worth of Rs.…
The date of de…
The case involves an application filed by Shree Nakoda Ispat Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Laxmipati Balaji Infra Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on a payment of INR 43,26,641.00 for the supply of TMT bars. The application was filed due to the corporate debtor's failure to make payments despite repeated reminders and dishonoring of cheques issued for part payment.
Shree Nakoda Ispat Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Laxmipati Balaji Infra Private Limited, the corporate debtor. The operational creditor is a registered company engaged in the business of TMT bars. The corporate debtor was incorporated on 26.03.2015. The corporate debtor approached the operational creditor to purchase TMT bars of various sizes, and purchase orders were placed on 13.06.2017. The operational creditor supplied materials worth INR 43,26,641.00 to the corporate debtor between 21.06.2017 and 07.07.2017. The purchase orders specified a payment term of 45 days from the date of supply. The corporate debtor failed to make payments despite repeated
…The Applicant supplied materials worth of Rs.…
The date of de…