S.N. Tradelink Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Millennium Structurals (India) Limited, the Corporate Debtor, claiming a debt of Rs.7,91,932. The Operational Creditor contended that they sold goods to the Corporate Debtor between 15.04.2016 and 21.04.2016, for which payment was not made. A notice under Section 8 of the IBC was served on the Corporate Debtor on 10.04.2019. The Corporate Debtor argued that the application was filed beyond three years from the date of default.
S.N. Tradelink Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Millennium Structurals (India) Limited (Corporate Debtor) for a debt of Rs.7,91,932. The Operational Creditor supplied goods to the Corporate Debtor between 15.04.2016 and 21.04.2016. The Corporate Debtor failed to make the payment. A notice under Section 8 of the IBC was served on 10.04.2019. The application was filed on 01.07.2019. The Corporate Debtor contended that the application was filed beyond the three-year limitation period from the date of default. The invoices stipulated immediate payment. The Corporate Debtor did not respond to the Section 8 notice within 10 days.
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Operational Creditor…
The last invoice for…
S.N. Tradelink Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Millennium Structurals (India) Limited, the Corporate Debtor, claiming a debt of Rs.7,91,932. The Operational Creditor contended that they sold goods to the Corporate Debtor between 15.04.2016 and 21.04.2016, for which payment was not made. A notice under Section 8 of the IBC was served on the Corporate Debtor on 10.04.2019. The Corporate Debtor argued that the application was filed beyond three years from the date of default.
S.N. Tradelink Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Millennium Structurals (India) Limited (Corporate Debtor) for a debt of Rs.7,91,932. The Operational Creditor supplied goods to the Corporate Debtor between 15.04.2016 and 21.04.2016. The Corporate Debtor failed to make the payment. A notice under Section 8 of the IBC was served on 10.04.2019. The application was filed on 01.07.2019. The Corporate Debtor contended that the application was filed beyond the three-year limitation period from the date of default. The invoices stipulated immediate payment. The Corporate Debtor did not respond to the Section 8 notice within 10 days.
Operational Creditor…
The last invoice for…