The present application was filed by Raj Metal Industries (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against NDA Metaoxides Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a default in payment amounting to Rs. 3,03,30,537/-, which included both principal and interest. The Corporate Debtor had placed a purchase order for 1,20,000 kg of pure LEAD and the Operational Creditor subsequently issued three invoices for the supplied goods. Payment was due within 20 days from the invoice date, making the debt due on October 4, 2023.

The present application was filed by Raj Metal Industries (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against NDA Metaoxides Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a default in payment amounting to Rs. 3,03,30,537/-, which included both principal and interest. The Corporate Debtor had placed a purchase order for 1,20,000 kg of pure LEAD and the Operational Creditor subsequently issued three invoices for the supplied goods. Payment was due within 20 days from the invoice date, making the debt due on October 4, 2023.