The case pertains to an application filed by Modi Hitech India Limited, the Operational Creditor, against North Bengal Iron and Steel Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's failure to pay outstanding dues.
Modi Hitech India Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against North Bengal Iron and Steel Private Limited, the Corporate Debtor, due to non-payment of dues. The Operational Creditor is in the business of manufacturing and selling welding consumables and had supplied goods to the Corporate Debtor based on purchase orders. As of 05.02.2015, the total outstanding amount was Rs. 7,70,196/-, including a principal amount of Rs. 4,47,789/- and interest of Rs. 3,22,407/- as of 18.01.2018. The Corporate Debtor had approached the Operational Creditor on 14.01.2015 for the supply of goods, and a purchase order was placed on 05.02.2015. The goods were supplied, and invoices were raised, which the
…Sign in to view the parties.
The Corporate Debtor…
A purchase order was…
The case pertains to an application filed by Modi Hitech India Limited, the Operational Creditor, against North Bengal Iron and Steel Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's failure to pay outstanding dues.
Modi Hitech India Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against North Bengal Iron and Steel Private Limited, the Corporate Debtor, due to non-payment of dues. The Operational Creditor is in the business of manufacturing and selling welding consumables and had supplied goods to the Corporate Debtor based on purchase orders. As of 05.02.2015, the total outstanding amount was Rs. 7,70,196/-, including a principal amount of Rs. 4,47,789/- and interest of Rs. 3,22,407/- as of 18.01.2018. The Corporate Debtor had approached the Operational Creditor on 14.01.2015 for the supply of goods, and a purchase order was placed on 05.02.2015. The goods were supplied, and invoices were raised, which the
…The Corporate Debtor…
A purchase order was…