The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Hemang Steel Traders (Operational Creditor) against Omni Auto Tech Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an unpaid operational debt of Rs. 64,00,722/- including interest at 24% as of 09.04.2018. Despite demand, the Corporate Debtor failed to pay the outstanding amount, leading to the application.
Hemang Steel Traders, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Omni Auto Tech Private Limited, the Corporate Debtor. The claim was for Rs. 64,00,722/- representing unpaid operational debt, including interest at 24% as of 09.04.2018. The Corporate Debtor had placed purchase orders for Carbon Steel Bars 65 RCS Grade SAE 1049, which the Operational Creditor delivered. Three invoices were raised, and partial payments were made, with the last payment on 03.07.2015. The Corporate Debtor acknowledged the debt in HST-Outstanding Bills. A demand notice under Section 8 of the I&B Code was issued on 11.04.2018. Notice sent to the Corporate Debtor was returned undelivered, leading to substituted service
…Sign in to view the parties.
The Corporate Debtor…
Unpaid operatio…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Hemang Steel Traders (Operational Creditor) against Omni Auto Tech Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an unpaid operational debt of Rs. 64,00,722/- including interest at 24% as of 09.04.2018. Despite demand, the Corporate Debtor failed to pay the outstanding amount, leading to the application.
Hemang Steel Traders, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Omni Auto Tech Private Limited, the Corporate Debtor. The claim was for Rs. 64,00,722/- representing unpaid operational debt, including interest at 24% as of 09.04.2018. The Corporate Debtor had placed purchase orders for Carbon Steel Bars 65 RCS Grade SAE 1049, which the Operational Creditor delivered. Three invoices were raised, and partial payments were made, with the last payment on 03.07.2015. The Corporate Debtor acknowledged the debt in HST-Outstanding Bills. A demand notice under Section 8 of the I&B Code was issued on 11.04.2018. Notice sent to the Corporate Debtor was returned undelivered, leading to substituted service
…The Corporate Debtor…
Unpaid operatio…