The case involves a petition filed by Mohit Minerals Limited, an operational creditor, against Nidhi Impotrade Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mohit Minerals claimed that Nidhi Impotrade owed them Rs. 77,11,953 towards principal operational debt, along with an agreed interest of 18% per annum from 18.01.2018. Mohit Minerals, a company engaged in the trading and supply of coal, had a business relationship with Nidhi Impotrade, a private limited company, for the purchase and import of coal. The business grew, but Nidhi Impotrade started delaying payments, leading to the outstanding debt. Mohit Minerals issued a statutory demand notice dated 02.07.2019 under section 8 of the I&B Code.
Mohit Minerals Limited (operational creditor) and Nidhi Impotrade Private Limited (corporate debtor) had a business relationship involving the purchase and import of coal. Mohit Minerals supplied coal to Nidhi Impotrade, raising invoices for each supply. Initially, Nidhi Impotrade made payments via cheque. Over time, Nidhi Impotrade began delaying payments, leading to an outstanding amount of Rs. 77,11,953 towards principal, plus interest. Mohit Minerals issued a demand notice dated 02.07.2019 under Section 8 of the I&B Code. The demand notice was signed by an advocate, Mr. Sumit Kumar, on behalf of Mohit Minerals. Nidhi Impotrade contested the demand notice, arguing that the advocate lacked proper authorization to issue it. Mohit Minerals did not provide an
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Mohit Minerals Limited…
Nidhi Impotrade Private Limited registered…
The case involves a petition filed by Mohit Minerals Limited, an operational creditor, against Nidhi Impotrade Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mohit Minerals claimed that Nidhi Impotrade owed them Rs. 77,11,953 towards principal operational debt, along with an agreed interest of 18% per annum from 18.01.2018. Mohit Minerals, a company engaged in the trading and supply of coal, had a business relationship with Nidhi Impotrade, a private limited company, for the purchase and import of coal. The business grew, but Nidhi Impotrade started delaying payments, leading to the outstanding debt. Mohit Minerals issued a statutory demand notice dated 02.07.2019 under section 8 of the I&B Code.
Mohit Minerals Limited (operational creditor) and Nidhi Impotrade Private Limited (corporate debtor) had a business relationship involving the purchase and import of coal. Mohit Minerals supplied coal to Nidhi Impotrade, raising invoices for each supply. Initially, Nidhi Impotrade made payments via cheque. Over time, Nidhi Impotrade began delaying payments, leading to an outstanding amount of Rs. 77,11,953 towards principal, plus interest. Mohit Minerals issued a demand notice dated 02.07.2019 under Section 8 of the I&B Code. The demand notice was signed by an advocate, Mr. Sumit Kumar, on behalf of Mohit Minerals. Nidhi Impotrade contested the demand notice, arguing that the advocate lacked proper authorization to issue it. Mohit Minerals did not provide an
…Mohit Minerals Limited…
Nidhi Impotrade Private Limited registered…