Shri Krishna Enterprises (Petitioner) provided labor services to Paramount Wheels Private Limited (Corporate Debtor) from 12.12.2018 to 27.12.2018, raising invoices totaling Rs. 51,25,802/-. The Corporate Debtor paid Rs. 26,66,492/-, leaving an outstanding balance of Rs. 24,59,310/-. The Corporate Debtor failed to pay the outstanding amount by 27.12.2018, constituting a default. The Petitioner issued a demand notice on 2019-03-20 under Section 8 of the IBC, demanding the outstanding amount. The Corporate Debtor did not respond to the demand notice. The Corporate Debtor's counsel accepted the liability and default during the hearing. The Corporate Debtor's reply indicated the amount remained unpaid due to financial difficulties.

Shri Krishna Enterprises (Petitioner) provided labor services to Paramount Wheels Private Limited (Corporate Debtor) from 12.12.2018 to 27.12.2018, raising invoices totaling Rs. 51,25,802/-. The Corporate Debtor paid Rs. 26,66,492/-, leaving an outstanding balance of Rs. 24,59,310/-. The Corporate Debtor failed to pay the outstanding amount by 27.12.2018, constituting a default. The Petitioner issued a demand notice on 2019-03-20 under Section 8 of the IBC, demanding the outstanding amount. The Corporate Debtor did not respond to the demand notice. The Corporate Debtor's counsel accepted the liability and default during the hearing. The Corporate Debtor's reply indicated the amount remained unpaid due to financial difficulties.