The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Balaji Engineering, the Operational Creditor, against Piletech Infra Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's failure to pay a sum of Rs. 73,63,654.00 as principal and Rs. 23,38,093.00 as interest, totaling Rs. 97,01,747.00 as of 12.11.2018, the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods for the business of the Corporate Debtor. Invoices were raised from time to time, with a total of 31 invoices raised between 25.11.2016 and 04.07.2017. The Corporate Debtor received the
…Balaji Engineering, the Operational Creditor, filed a petition against Piletech Infra Private Limited, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC). The petition was based on the Corporate Debtor's failure to pay a sum of Rs. 73,63,654.00 as principal and Rs. 23,38,093.00 as interest, totaling Rs. 97,01,747.00 as of 12.11.2018, which was considered the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods, with 31 invoices raised between 25.11.2016 and 04.07.2017. The goods were received by the Corporate Debtor. A demand notice was served on 12.11.2018, but the Corporate Debtor did not respond. The Corporate Debtor claimed there was no proof of delivery of the demand
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The Insolvency &…
The first invoice was…
The case pertains to a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Balaji Engineering, the Operational Creditor, against Piletech Infra Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's failure to pay a sum of Rs. 73,63,654.00 as principal and Rs. 23,38,093.00 as interest, totaling Rs. 97,01,747.00 as of 12.11.2018, the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods for the business of the Corporate Debtor. Invoices were raised from time to time, with a total of 31 invoices raised between 25.11.2016 and 04.07.2017. The Corporate Debtor received the
…Balaji Engineering, the Operational Creditor, filed a petition against Piletech Infra Private Limited, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC). The petition was based on the Corporate Debtor's failure to pay a sum of Rs. 73,63,654.00 as principal and Rs. 23,38,093.00 as interest, totaling Rs. 97,01,747.00 as of 12.11.2018, which was considered the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods, with 31 invoices raised between 25.11.2016 and 04.07.2017. The goods were received by the Corporate Debtor. A demand notice was served on 12.11.2018, but the Corporate Debtor did not respond. The Corporate Debtor claimed there was no proof of delivery of the demand
…The Insolvency &…
The first invoice was…