Uno Minda Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Marshall Machines Limited (Corporate Debtor) due to a default amount of Rs. 1,54,39,636 as on 12.10.2023. The default arose from the non-supply of machineries for which advance payments were made.
Uno Minda Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Marshall Machines Limited (Corporate Debtor).
The default amount was Rs. 1,54,39,636 as on 12.10.2023, arising from the non-supply of machineries.
The Operational Creditor issued Purchase Orders for the supply of CNC Robotic Automation Cell with Auto Gaging Machines and CNC Pre-Cut Machine.
The Corporate Debtor acknowledged the Purchase Orders and delivery terms of 12-16 weeks.
The Operational Creditor paid advance amounts of ₹1,13,40,000 and ₹17,40,000 towards the supply of machineries.
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The instant application…
Operational Creditor…
Uno Minda Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Marshall Machines Limited (Corporate Debtor) due to a default amount of Rs. 1,54,39,636 as on 12.10.2023. The default arose from the non-supply of machineries for which advance payments were made.
Uno Minda Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Marshall Machines Limited (Corporate Debtor).
The default amount was Rs. 1,54,39,636 as on 12.10.2023, arising from the non-supply of machineries.
The Operational Creditor issued Purchase Orders for the supply of CNC Robotic Automation Cell with Auto Gaging Machines and CNC Pre-Cut Machine.
The Corporate Debtor acknowledged the Purchase Orders and delivery terms of 12-16 weeks.
The Operational Creditor paid advance amounts of ₹1,13,40,000 and ₹17,40,000 towards the supply of machineries.
…The instant application…
Operational Creditor…