Salasar Builders, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against North Rajasthan Infracon Pvt Ltd, the Corporate Debtor (CD), due to an alleged default in settling an amount of Rs 1,80,960 as on 31.12.2019, plus interest at 18% PA, for the supply of various materials and civil works. The CD had approached the OC for supplying construction material and civil works, including digging of earth and stone. The OC supplied the required goods and raised invoice number 102 dated 10.4.19 for Rs 1,59,975.
Salasar Builders (Operational Creditor) supplied construction materials and civil works to North Rajasthan Infracon Pvt Ltd (Corporate Debtor). An invoice (number 102 dated 10.4.19) for Rs 1,59,975 was raised. The total outstanding amount was Rs 1,80,960 as on 31.12.2019, plus interest at 18% PA. The Corporate Debtor acknowledged the debt but cited a delay in building plan approval as a reason for non-payment. The Operational Creditor issued a Demand Notice u/s 8 of IBC on 31.12.2019, which the Corporate Debtor acknowledged. The Corporate Debtor did not raise any dispute regarding the quality or quantity of goods supplied. The Corporate Debtor acknowledged its liability to pay the outstanding dues in an email dated 07.01.2020. The Operational Creditor filed a petition
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Salasar Builders, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against North Rajasthan Infracon Pvt Ltd, the Corporate Debtor (CD), due to an alleged default in settling an amount of Rs 1,80,960 as on 31.12.2019, plus interest at 18% PA, for the supply of various materials and civil works. The CD had approached the OC for supplying construction material and civil works, including digging of earth and stone. The OC supplied the required goods and raised invoice number 102 dated 10.4.19 for Rs 1,59,975.
Salasar Builders (Operational Creditor) supplied construction materials and civil works to North Rajasthan Infracon Pvt Ltd (Corporate Debtor). An invoice (number 102 dated 10.4.19) for Rs 1,59,975 was raised. The total outstanding amount was Rs 1,80,960 as on 31.12.2019, plus interest at 18% PA. The Corporate Debtor acknowledged the debt but cited a delay in building plan approval as a reason for non-payment. The Operational Creditor issued a Demand Notice u/s 8 of IBC on 31.12.2019, which the Corporate Debtor acknowledged. The Corporate Debtor did not raise any dispute regarding the quality or quantity of goods supplied. The Corporate Debtor acknowledged its liability to pay the outstanding dues in an email dated 07.01.2020. The Operational Creditor filed a petition
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Corporate Debtor…