The case involves a company petition filed by Mr. O.S. Abdullah, a business consultant and operational creditor, against M/s. Matrix Metal Traders Private Limited, the respondent and corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner claimed outstanding dues for business supporting services rendered to the respondent based on specific invoices. The respondent company is a private limited company incorporated under the Companies Act, 1956, engaged in the business of trading various metals and acting as contractors.
Mr. O.S. Abdullah, a business consultant, filed a company petition against M/s. Matrix Metal Traders Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an operational creditor. The petitioner provided business supporting services to the respondent, a private limited company engaged in metal trading and contracting, based on a Memorandum of Understanding. The petitioner raised four invoices for these services, totaling Rs. 7,05,000, with an additional interest of Rs. 18,842, bringing the total outstanding to Rs. 7,23,842. Despite several requests and reminders, the respondent failed to settle the dues. The petitioner then sent a demand notice dated 2018-02-09 under Section 8 of the IB Code, 2016. The respondent's counsel appeared
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Petitioner sent a Demand Notice to the…
Order delivered admitting the petition and…
The case involves a company petition filed by Mr. O.S. Abdullah, a business consultant and operational creditor, against M/s. Matrix Metal Traders Private Limited, the respondent and corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner claimed outstanding dues for business supporting services rendered to the respondent based on specific invoices. The respondent company is a private limited company incorporated under the Companies Act, 1956, engaged in the business of trading various metals and acting as contractors.
Mr. O.S. Abdullah, a business consultant, filed a company petition against M/s. Matrix Metal Traders Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an operational creditor. The petitioner provided business supporting services to the respondent, a private limited company engaged in metal trading and contracting, based on a Memorandum of Understanding. The petitioner raised four invoices for these services, totaling Rs. 7,05,000, with an additional interest of Rs. 18,842, bringing the total outstanding to Rs. 7,23,842. Despite several requests and reminders, the respondent failed to settle the dues. The petitioner then sent a demand notice dated 2018-02-09 under Section 8 of the IB Code, 2016. The respondent's counsel appeared
…Petitioner sent a Demand Notice to the…
Order delivered admitting the petition and…