The case involves a petition filed by Agarwal Marketing and Services (Energy) Pvt. Ltd., the Operational Creditor, against Max Tech Oil & Gas Services Pvt. Ltd., the Corporate Debtor, under the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to unpaid dues for seismic services provided to the Corporate Debtor. The Corporate Debtor acknowledged the debt but claimed inability to pay due to ongoing revival efforts.
Agarwal Marketing and Services (Energy) Pvt. Ltd. (Operational Creditor) filed a petition against Max Tech Oil & Gas Services Pvt. Ltd. (Corporate Debtor) under the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor owed Rs.97,50,240.65 to the Operational Creditor for seismic services, with the debt falling due on 2017-01-05. The debt was confirmed by the Corporate Debtor in a letter of balance confirmation issued on 2017-01-05. The Operational Creditor filed Form 5, a demand notice in Form No.4, and an invoice in Form No.3, as mandated by the Insolvency and Bankruptcy (Adjudicating Authority) Rules, 2016. The Operational Creditor also filed a certificate of balance confirmation dated
…Sign in to view the parties.
The debt of Rs.97,50,240.65 owed by the…
The Corporate Debtor…
The case involves a petition filed by Agarwal Marketing and Services (Energy) Pvt. Ltd., the Operational Creditor, against Max Tech Oil & Gas Services Pvt. Ltd., the Corporate Debtor, under the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to unpaid dues for seismic services provided to the Corporate Debtor. The Corporate Debtor acknowledged the debt but claimed inability to pay due to ongoing revival efforts.
Agarwal Marketing and Services (Energy) Pvt. Ltd. (Operational Creditor) filed a petition against Max Tech Oil & Gas Services Pvt. Ltd. (Corporate Debtor) under the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor owed Rs.97,50,240.65 to the Operational Creditor for seismic services, with the debt falling due on 2017-01-05. The debt was confirmed by the Corporate Debtor in a letter of balance confirmation issued on 2017-01-05. The Operational Creditor filed Form 5, a demand notice in Form No.4, and an invoice in Form No.3, as mandated by the Insolvency and Bankruptcy (Adjudicating Authority) Rules, 2016. The Operational Creditor also filed a certificate of balance confirmation dated
…The debt of Rs.97,50,240.65 owed by the…
The Corporate Debtor…