The case involves two applications, IBA/22/KOB/2020 and IBA/23/KOB/2020, filed by M/s. Ambani Vitrified Pvt Limited and M/s. Airson Ceramic Industries, respectively, against the Corporate Debtor, M/s. Nassco Trading India Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditors claimed unpaid dues for the supply of vitrified and ceramic tiles. The Corporate Debtor failed to clear the outstanding dues despite acknowledging the invoices. The applications were filed due to the Corporate Debtor's failure to make timely payments for the supplies/services provided.
M/s. Ambani Vitrified Private Limited and M/s. Airson Ceramic Industries, the Operational Creditors, filed applications under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Nassco Trading India Private Limited, the Corporate Debtor, due to unpaid dues for the supply of vitrified and ceramic tiles. M/s. Ambani Vitrified Private Limited supplied 12,382 boxes of nano vitrified tiles worth ₹44,02,946/- between 26.05.2016 and 15.08.2016, out of which ₹56,666 was paid, leaving a balance of ₹77,34,614 (including interest of ₹33,88,334) due as of 30.11.2019. M/s. Airson Ceramic Industries supplied 69,792 boxes of ceramic tiles worth ₹1,83,73,901 between 01.04.2016 and 31.04.2017, out of which ₹1,16,67,032 was paid, leaving a balance of ₹67,06,869. The
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The case involves two applications, IBA/22/KOB/2020 and IBA/23/KOB/2020, filed by M/s. Ambani Vitrified Pvt Limited and M/s. Airson Ceramic Industries, respectively, against the Corporate Debtor, M/s. Nassco Trading India Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditors claimed unpaid dues for the supply of vitrified and ceramic tiles. The Corporate Debtor failed to clear the outstanding dues despite acknowledging the invoices. The applications were filed due to the Corporate Debtor's failure to make timely payments for the supplies/services provided.
M/s. Ambani Vitrified Private Limited and M/s. Airson Ceramic Industries, the Operational Creditors, filed applications under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Nassco Trading India Private Limited, the Corporate Debtor, due to unpaid dues for the supply of vitrified and ceramic tiles. M/s. Ambani Vitrified Private Limited supplied 12,382 boxes of nano vitrified tiles worth ₹44,02,946/- between 26.05.2016 and 15.08.2016, out of which ₹56,666 was paid, leaving a balance of ₹77,34,614 (including interest of ₹33,88,334) due as of 30.11.2019. M/s. Airson Ceramic Industries supplied 69,792 boxes of ceramic tiles worth ₹1,83,73,901 between 01.04.2016 and 31.04.2017, out of which ₹1,16,67,032 was paid, leaving a balance of ₹67,06,869. The
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M/s. Ambani Vitrified Private Limited…