The case pertains to an application filed 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, by M/s. Sai Trading Company (Operational Creditor) against M/s. Padmavati Wire and Cables Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied. The petitioner issued a demand notice under section 8 of the IBC on July 11, 2017, which was duly served to the corporate debtor. The corporate debtor did not raise any dispute or objection to the demand notice.
M/s. Sai Trading Company, the Operational Creditor, filed an application against M/s. Padmavati Wire and Cables Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor had defaulted on payments for goods supplied, specifically Aluminium Miler and plastic for Cables. The Operational Creditor had raised 12 invoices, with outstanding payments totaling Rs. 2,24,799/-, out of which the Corporate Debtor had paid Rs. 30,346/- until August 6, 2016. No further payments were received after this date. A demand notice under Section 8 of the IBC was issued on July 11, 2017, and served to the Corporate Debtor, who did not raise any dispute or objection. The Director of the Debtor
…Sign in to view the parties.
The Corporate Debtor…
The Operational Creditor issued a Demand…
The case pertains to an application filed 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, by M/s. Sai Trading Company (Operational Creditor) against M/s. Padmavati Wire and Cables Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied. The petitioner issued a demand notice under section 8 of the IBC on July 11, 2017, which was duly served to the corporate debtor. The corporate debtor did not raise any dispute or objection to the demand notice.
M/s. Sai Trading Company, the Operational Creditor, filed an application against M/s. Padmavati Wire and Cables Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor had defaulted on payments for goods supplied, specifically Aluminium Miler and plastic for Cables. The Operational Creditor had raised 12 invoices, with outstanding payments totaling Rs. 2,24,799/-, out of which the Corporate Debtor had paid Rs. 30,346/- until August 6, 2016. No further payments were received after this date. A demand notice under Section 8 of the IBC was issued on July 11, 2017, and served to the Corporate Debtor, who did not raise any dispute or objection. The Director of the Debtor
…The Corporate Debtor…
The Operational Creditor issued a Demand…