The case involves an application 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 Peer Aar Automotive Private Limited, an operational creditor, against Leel Electricals Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for air conditioning parts supplied. The corporate debtor was served notice but did not appear or contest the case. The operational creditor raised invoices amounting to Rs. 40,76,565, which they contended was the amount in default. A demand notice was issued under Section 8 of the IBC, 2016, dated 14.03.2019, demanding Rs. 37,52,096, which was received by the respondent.
…Peer Aar Automotive Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Leel Electricals Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor agreed to purchase air conditioning parts from the Operational Creditor. The Operational Creditor supplied the products, which were approved and confirmed by the Corporate Debtor. The Operational Creditor raised invoices amounting to Rs. 40,76,565, which it claimed was the amount in default. A demand notice dated 14.03.2019 was issued under Section 8 of the IBC, 2016, demanding Rs. 37,52,096, which was received by the Corporate Debtor. Despite the demand notice, no payment was made. The
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The corporate debtor…
Invoices were raised…
The case involves an application 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 Peer Aar Automotive Private Limited, an operational creditor, against Leel Electricals Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for air conditioning parts supplied. The corporate debtor was served notice but did not appear or contest the case. The operational creditor raised invoices amounting to Rs. 40,76,565, which they contended was the amount in default. A demand notice was issued under Section 8 of the IBC, 2016, dated 14.03.2019, demanding Rs. 37,52,096, which was received by the respondent.
…Peer Aar Automotive Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Leel Electricals Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor agreed to purchase air conditioning parts from the Operational Creditor. The Operational Creditor supplied the products, which were approved and confirmed by the Corporate Debtor. The Operational Creditor raised invoices amounting to Rs. 40,76,565, which it claimed was the amount in default. A demand notice dated 14.03.2019 was issued under Section 8 of the IBC, 2016, demanding Rs. 37,52,096, which was received by the Corporate Debtor. Despite the demand notice, no payment was made. The
…The corporate debtor…
Invoices were raised…