The case involves an application filed by Weather Makers Pvt. Ltd., an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Parabolic Drugs Ltd., the corporate debtor. Weather Makers Pvt. Ltd. supplied Heating, Ventilation, and Air Conditioning (HVAC) systems and related services to Parabolic Drugs Ltd. The corporate debtor defaulted on payments, leading to the filing of this petition. The petitioner seeks to recover an outstanding amount of ₹73,37,732.80.
Weather Makers Pvt. Ltd. (the petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Parabolic Drugs Ltd. (the respondent), seeking to initiate the corporate insolvency resolution process. The petitioner, an operational creditor, supplied Heating, Ventilation, and Air Conditioning (HVAC) systems and related services to the respondent. The first bill of default was issued on 19.09.2011. Goods were supplied from 19.09.2011 to 29.08.2012. The last payment was made on 21.03.2014, leaving an outstanding balance of ₹73,37,732.80. The respondent issued balance confirmation letters dated 30.07.2016 and 31.08.2017, acknowledging the outstanding amount. Before filing the petition, the petitioner sent a demand notice dated
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The first bill of default…
Goods were supplied by Weather Makers Pvt. Ltd.…
The case involves an application filed by Weather Makers Pvt. Ltd., an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Parabolic Drugs Ltd., the corporate debtor. Weather Makers Pvt. Ltd. supplied Heating, Ventilation, and Air Conditioning (HVAC) systems and related services to Parabolic Drugs Ltd. The corporate debtor defaulted on payments, leading to the filing of this petition. The petitioner seeks to recover an outstanding amount of ₹73,37,732.80.
Weather Makers Pvt. Ltd. (the petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Parabolic Drugs Ltd. (the respondent), seeking to initiate the corporate insolvency resolution process. The petitioner, an operational creditor, supplied Heating, Ventilation, and Air Conditioning (HVAC) systems and related services to the respondent. The first bill of default was issued on 19.09.2011. Goods were supplied from 19.09.2011 to 29.08.2012. The last payment was made on 21.03.2014, leaving an outstanding balance of ₹73,37,732.80. The respondent issued balance confirmation letters dated 30.07.2016 and 31.08.2017, acknowledging the outstanding amount. Before filing the petition, the petitioner sent a demand notice dated
…The first bill of default…
Goods were supplied by Weather Makers Pvt. Ltd.…