M/s. Vaishno Engineer System Associates, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Maa Tara Ferrotech Private Limited, the Corporate Debtor, for defaulting on an operational debt of Rs. 10,58,000/-. The Corporate Debtor had issued a work order on 6-6-2013, and the Operational Creditor completed the fabrication job. Despite repeated demands, the Corporate Debtor did not pay the debt, although they admitted the debt in 2014 and 2017. A notice under Section 8 of the IBC, 2016, dated 21-05-2018, was served on the Corporate Debtor.
M/s. Vaishno Engineer System Associates (Operational Creditor) provided fabrication services to M/s. Maa Tara Ferrotech Private Limited (Corporate Debtor) based on a work order dated 2013-06-06. The Corporate Debtor defaulted on a payment of Rs. 10,58,000/- despite repeated demands. The Corporate Debtor admitted the debt in 2014 and 2017. A notice under Section 8 of the Insolvency & Bankruptcy Code, 2016 was served on 2018-05-21. The Operational Creditor filed an application under Section 9 of the IBC, 2016. The Operational Creditor produced invoices, demand notices, and debt confirmation as evidence. The Corporate Debtor did not file an affidavit in reply despite being granted time.
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Corporate Debtor issued…
Corporate D…
M/s. Vaishno Engineer System Associates, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Maa Tara Ferrotech Private Limited, the Corporate Debtor, for defaulting on an operational debt of Rs. 10,58,000/-. The Corporate Debtor had issued a work order on 6-6-2013, and the Operational Creditor completed the fabrication job. Despite repeated demands, the Corporate Debtor did not pay the debt, although they admitted the debt in 2014 and 2017. A notice under Section 8 of the IBC, 2016, dated 21-05-2018, was served on the Corporate Debtor.
M/s. Vaishno Engineer System Associates (Operational Creditor) provided fabrication services to M/s. Maa Tara Ferrotech Private Limited (Corporate Debtor) based on a work order dated 2013-06-06. The Corporate Debtor defaulted on a payment of Rs. 10,58,000/- despite repeated demands. The Corporate Debtor admitted the debt in 2014 and 2017. A notice under Section 8 of the Insolvency & Bankruptcy Code, 2016 was served on 2018-05-21. The Operational Creditor filed an application under Section 9 of the IBC, 2016. The Operational Creditor produced invoices, demand notices, and debt confirmation as evidence. The Corporate Debtor did not file an affidavit in reply despite being granted time.
Corporate Debtor issued…
Corporate D…