The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Agarwal Coal Corporation Private Limited (Operational Creditor) against Nizam Energy Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that they supplied imported coal to the Corporate Debtor between 29.12.2017 and 10.02.2018, raising invoices for the same. The Corporate Debtor allegedly accepted the consignment without protest, and a demand notice was issued on 26.02.2019. The total outstanding amount claimed was Rs.97,70,147/-.
Agarwal Coal Corporation Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Nizam Energy Private Limited (Corporate Debtor) seeking initiation of CIRP. The Operational Creditor claimed to have supplied imported coal to the Corporate Debtor between 29.12.2017 and 10.02.2018, with an outstanding amount of Rs.97,70,147/-. A demand notice was issued on 26.02.2019. The Corporate Debtor disputed the claim, stating that there was a dispute in seven invoices, the goods were never delivered, and the amount due had been settled. The Corporate Debtor also stated that Letters of Credit were issued, and Rs.25,00,000/- was encashed on 08.03.2018. The Applicant filed a rejoinder denying the Corporate
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The Applicant claims to…
The Applicant claims to…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Agarwal Coal Corporation Private Limited (Operational Creditor) against Nizam Energy Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that they supplied imported coal to the Corporate Debtor between 29.12.2017 and 10.02.2018, raising invoices for the same. The Corporate Debtor allegedly accepted the consignment without protest, and a demand notice was issued on 26.02.2019. The total outstanding amount claimed was Rs.97,70,147/-.
Agarwal Coal Corporation Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Nizam Energy Private Limited (Corporate Debtor) seeking initiation of CIRP. The Operational Creditor claimed to have supplied imported coal to the Corporate Debtor between 29.12.2017 and 10.02.2018, with an outstanding amount of Rs.97,70,147/-. A demand notice was issued on 26.02.2019. The Corporate Debtor disputed the claim, stating that there was a dispute in seven invoices, the goods were never delivered, and the amount due had been settled. The Corporate Debtor also stated that Letters of Credit were issued, and Rs.25,00,000/- was encashed on 08.03.2018. The Applicant filed a rejoinder denying the Corporate
…The Applicant claims to…
The Applicant claims to…