The case involves an application filed by M/s. Wittur Elevator Components India Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor alleges that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Corporate Debtor disputes the claim, contending that the application is not maintainable, the claim is barred by limitation, and there is no privity of contract.
M/s. Wittur Elevator Components India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Operational Creditor contended that they had business transactions with the Corporate Debtor and supplied elevator components as described in the invoices. The Corporate Debtor received the goods but failed to pay the total amount. The Operational Creditor demanded the amount via emails, and the Corporate Debtor issued seven cheques that were dishonored. The
…Sign in to view the parties.
The Insolvency and…
The Operational Creditor demanded the…
The case involves an application filed by M/s. Wittur Elevator Components India Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor alleges that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Corporate Debtor disputes the claim, contending that the application is not maintainable, the claim is barred by limitation, and there is no privity of contract.
M/s. Wittur Elevator Components India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ocean Elevators Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in payment of Rs. 86,79,612/- for elevator components supplied. The Operational Creditor contended that they had business transactions with the Corporate Debtor and supplied elevator components as described in the invoices. The Corporate Debtor received the goods but failed to pay the total amount. The Operational Creditor demanded the amount via emails, and the Corporate Debtor issued seven cheques that were dishonored. The
…The Insolvency and…
The Operational Creditor demanded the…