M/s. Sound Build Care Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the corporate insolvency resolution process against M/s. Maxroth Impex Private Ltd., the corporate debtor, due to unpaid operational debt. The applicant claimed that they supplied ready-mix plaster to the respondent on a regular basis and raised invoices for the same. The respondent failed to make payments against these invoices, leading to the application.
M/s. Sound Build Care Private Limited (the Applicant) is engaged in supplying ready-mix plaster to M/s. Maxroth Impex Private Ltd. (the Respondent). The Applicant claimed that the Respondent owed Rs. 3,08,648/- for invoices raised from 2016-08-29 onwards. The Respondent failed to make payments, prompting the Applicant to issue a demand notice dated 2018-02-15. The Respondent filed objections stating they were unable to dispute the debt and might begin repayment around 2020 due to cash flow issues. The Applicant filed copies of invoices, account statements, and a demand notice. The Adjudicating Authority noted the application was complete and the Respondent hadn't disputed the debt. The Operational Creditor proposed Mr. Parag Shah as the Interim Resolution Professional
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M/s. Sound Build Care Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the corporate insolvency resolution process against M/s. Maxroth Impex Private Ltd., the corporate debtor, due to unpaid operational debt. The applicant claimed that they supplied ready-mix plaster to the respondent on a regular basis and raised invoices for the same. The respondent failed to make payments against these invoices, leading to the application.
M/s. Sound Build Care Private Limited (the Applicant) is engaged in supplying ready-mix plaster to M/s. Maxroth Impex Private Ltd. (the Respondent). The Applicant claimed that the Respondent owed Rs. 3,08,648/- for invoices raised from 2016-08-29 onwards. The Respondent failed to make payments, prompting the Applicant to issue a demand notice dated 2018-02-15. The Respondent filed objections stating they were unable to dispute the debt and might begin repayment around 2020 due to cash flow issues. The Applicant filed copies of invoices, account statements, and a demand notice. The Adjudicating Authority noted the application was complete and the Respondent hadn't disputed the debt. The Operational Creditor proposed Mr. Parag Shah as the Interim Resolution Professional
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