The case involves an application filed by S.T.P. Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M.K. Infrastructure Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for the supply of Thermoplastic Road marking paint and Glass Bead. The Operational Creditor submitted that a sum of Rs. 10,24,074/- was due. The Corporate Debtor contested the application, raising disputes regarding the maintainability of the application and the validity of the demand notice.
S.T.P. Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against M.K. Infrastructure Private Limited, the Corporate Debtor. S.T.P. Limited claimed that M.K. Infrastructure Private Limited defaulted in making payments for the supply of Thermoplastic Road marking paint and Glass Bead. The total amount due was Rs. 10,24,074/-. S.T.P. Limited submitted invoices and delivery challans as evidence of the supply of goods. M.K. Infrastructure Private Limited issued two post-dated cheques, which were dishonored on presentation. S.T.P. Limited sent a notice to M.K. Infrastructure Private Limited regarding the dishonoring of the cheques. M.K. Infrastructure Private Limited replied,
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Corporate Debtor issued…
Corporate Debtor issued…
The case involves an application filed by S.T.P. Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M.K. Infrastructure Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for the supply of Thermoplastic Road marking paint and Glass Bead. The Operational Creditor submitted that a sum of Rs. 10,24,074/- was due. The Corporate Debtor contested the application, raising disputes regarding the maintainability of the application and the validity of the demand notice.
S.T.P. Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against M.K. Infrastructure Private Limited, the Corporate Debtor. S.T.P. Limited claimed that M.K. Infrastructure Private Limited defaulted in making payments for the supply of Thermoplastic Road marking paint and Glass Bead. The total amount due was Rs. 10,24,074/-. S.T.P. Limited submitted invoices and delivery challans as evidence of the supply of goods. M.K. Infrastructure Private Limited issued two post-dated cheques, which were dishonored on presentation. S.T.P. Limited sent a notice to M.K. Infrastructure Private Limited regarding the dishonoring of the cheques. M.K. Infrastructure Private Limited replied,
…Corporate Debtor issued…
Corporate Debtor issued…