M/s. Calcutta Trading Centre, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Otto Projects Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 4,80,680/-. The Operational Creditor claimed that between 2013 and 2017, they sold and supplied goods worth Rs. 12,40,725/- to the Corporate Debtor, out of which the Corporate Debtor paid Rs. 9,61,500/-, leaving a balance of Rs. 2,79,225/- plus interest. A demand notice under Section 8 of the I&B Code was served on 10.03.2018, but the Corporate Debtor neither replied nor made the payment.
M/s. Calcutta Trading Centre (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Otto Projects Private Limited (Corporate Debtor). The Operational Creditor claimed the Corporate Debtor defaulted on an operational debt of Rs. 4,80,680/-. Between 2013 and 2017, the Operational Creditor sold goods worth Rs. 12,40,725/- to the Corporate Debtor, who paid Rs. 9,61,500/-, leaving a balance of Rs. 2,79,225/- plus interest. A demand notice under Section 8 of the I&B Code was served on 2018-03-10, but the Corporate Debtor did not respond or pay. The Operational Creditor produced invoices. The Corporate Debtor did not appear in the proceedings, which proceeded ex parte. The Operational Creditor did not
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Operational Creditor…
Operational Creditor…
M/s. Calcutta Trading Centre, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Otto Projects Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 4,80,680/-. The Operational Creditor claimed that between 2013 and 2017, they sold and supplied goods worth Rs. 12,40,725/- to the Corporate Debtor, out of which the Corporate Debtor paid Rs. 9,61,500/-, leaving a balance of Rs. 2,79,225/- plus interest. A demand notice under Section 8 of the I&B Code was served on 10.03.2018, but the Corporate Debtor neither replied nor made the payment.
M/s. Calcutta Trading Centre (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s. Otto Projects Private Limited (Corporate Debtor). The Operational Creditor claimed the Corporate Debtor defaulted on an operational debt of Rs. 4,80,680/-. Between 2013 and 2017, the Operational Creditor sold goods worth Rs. 12,40,725/- to the Corporate Debtor, who paid Rs. 9,61,500/-, leaving a balance of Rs. 2,79,225/- plus interest. A demand notice under Section 8 of the I&B Code was served on 2018-03-10, but the Corporate Debtor did not respond or pay. The Operational Creditor produced invoices. The Corporate Debtor did not appear in the proceedings, which proceeded ex parte. The Operational Creditor did not
…Operational Creditor…
Operational Creditor…