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 on 2018-12-10 before the Adjudicating Authority on the grounds that the Corporate Debtor failed to make payment of Rs.73,63,654.00 as principal and Rs.23,38,093.00 as interest as on 2018-11-12, 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, totaling 31 invoices starting from 2016-11-25 and ending on 2017-07-04.
…Balaji Engineering, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Piletech Infra Private Limited, the Corporate Debtor. 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 2018-11-12, which was the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods. The Operational Creditor raised 31 invoices between 2016-11-25 and 2017-07-04. The goods were received by the Corporate Debtor. A demand notice dated 2018-11-12 was served to the Corporate Debtor. The Corporate Debtor claimed disputes regarding the material supplied and alleged that
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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 on 2018-12-10 before the Adjudicating Authority on the grounds that the Corporate Debtor failed to make payment of Rs.73,63,654.00 as principal and Rs.23,38,093.00 as interest as on 2018-11-12, 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, totaling 31 invoices starting from 2016-11-25 and ending on 2017-07-04.
…Balaji Engineering, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Piletech Infra Private Limited, the Corporate Debtor. 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 2018-11-12, which was the date of default. The Operational Creditor and the Corporate Debtor had an arrangement for the supply of goods. The Operational Creditor raised 31 invoices between 2016-11-25 and 2017-07-04. The goods were received by the Corporate Debtor. A demand notice dated 2018-11-12 was served to the Corporate Debtor. The Corporate Debtor claimed disputes regarding the material supplied and alleged that
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End date of the 31…