The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Rishav Coke Product Private Limited (Operational Creditor) for initiating the Corporate Insolvency Resolution Process (CIRP) against Modern India Con-Cast Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,09,72,861.90/- which fell due on April 1, 2017. The Operational Creditor had supplied goods to the Corporate Debtor against purchase orders, supported by tax-paid invoices and delivery notes. Despite a demand notice issued on April 4, 2019, and a reply received on April 12, 2019, the Corporate Debtor failed to make the payment.
Rishav Coke Product Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modern India Con-Cast Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,09,72,861.90/- which fell due on April 1, 2017. The Operational Creditor had supplied goods to the Corporate Debtor against purchase orders, supported by tax-paid invoices and delivery notes. The Corporate Debtor made a partial payment of Rs. 10,00,000/- via RTGS, but no further payments were made, leading to the discontinuation of supply. A demand notice was issued on April 4, 2019, and a reply was received on April 12, 2019,
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The debt o…
Board Resolution dated 26th March, 2019 to file…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Rishav Coke Product Private Limited (Operational Creditor) for initiating the Corporate Insolvency Resolution Process (CIRP) against Modern India Con-Cast Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,09,72,861.90/- which fell due on April 1, 2017. The Operational Creditor had supplied goods to the Corporate Debtor against purchase orders, supported by tax-paid invoices and delivery notes. Despite a demand notice issued on April 4, 2019, and a reply received on April 12, 2019, the Corporate Debtor failed to make the payment.
Rishav Coke Product Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modern India Con-Cast Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,09,72,861.90/- which fell due on April 1, 2017. The Operational Creditor had supplied goods to the Corporate Debtor against purchase orders, supported by tax-paid invoices and delivery notes. The Corporate Debtor made a partial payment of Rs. 10,00,000/- via RTGS, but no further payments were made, leading to the discontinuation of supply. A demand notice was issued on April 4, 2019, and a reply was received on April 12, 2019,
…The debt o…
Board Resolution dated 26th March, 2019 to file…