M/s.Vishwas Concrete Private Limited, an operational creditor, filed C.P. (IB) No. 48/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Pranee Infrastructures Private Limited, the corporate debtor, due to a default of Rs.17,56,500/-. The corporate debtor allegedly committed default for an amount of Rs.17,56,500/- along with interest calculated at 24% p.a from the date of due till the date of payment. The petitioner supplied ready mix concrete to the respondent for a project at ISRO Housing Colony, Jalahalli, Bangalore. Despite attempts to recover the dues, the respondent failed to make payments. A demand notice was issued on 13.11.2017, but it was returned to the petitioner as 'Not Claimed'. The

M/s.Vishwas Concrete Private Limited, an operational creditor, filed C.P. (IB) No. 48/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Pranee Infrastructures Private Limited, the corporate debtor, due to a default of Rs.17,56,500/-. The corporate debtor allegedly committed default for an amount of Rs.17,56,500/- along with interest calculated at 24% p.a from the date of due till the date of payment. The petitioner supplied ready mix concrete to the respondent for a project at ISRO Housing Colony, Jalahalli, Bangalore. Despite attempts to recover the dues, the respondent failed to make payments. A demand notice was issued on 13.11.2017, but it was returned to the petitioner as 'Not Claimed'. The