The case involves a petition filed by Makalu Trading Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Prarthna Private Limited, the Corporate Debtor, due to non-payment of outstanding dues. The Operational Creditor claimed a total sum of Rs. 32,34,16,663/- as outstanding for the supply of steel and allied materials. The Corporate Debtor admitted the liability in its reply.
Makalu Trading Limited (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Prarthna Private Limited (Corporate Debtor) for non-payment of Rs. 32,34,16,663/-. The debt arose from the supply of steel and allied materials by the Operational Creditor to the Corporate Debtor. The Operational Creditor submitted invoices, ledger accounts, and balance confirmation certificates as evidence. The Corporate Debtor confirmed the outstanding amount in balance confirmation certificates dated 01.04.2018 and 01.04.2019. A demand notice was issued on 21.02.2020. The Corporate Debtor admitted the liability in its reply to the petition. The date of default was 29.02.2020. The Corporate Debtor is incorporated on 07.04.1981.
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Prarthna Private…
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The case involves a petition filed by Makalu Trading Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Prarthna Private Limited, the Corporate Debtor, due to non-payment of outstanding dues. The Operational Creditor claimed a total sum of Rs. 32,34,16,663/- as outstanding for the supply of steel and allied materials. The Corporate Debtor admitted the liability in its reply.
Makalu Trading Limited (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Prarthna Private Limited (Corporate Debtor) for non-payment of Rs. 32,34,16,663/-. The debt arose from the supply of steel and allied materials by the Operational Creditor to the Corporate Debtor. The Operational Creditor submitted invoices, ledger accounts, and balance confirmation certificates as evidence. The Corporate Debtor confirmed the outstanding amount in balance confirmation certificates dated 01.04.2018 and 01.04.2019. A demand notice was issued on 21.02.2020. The Corporate Debtor admitted the liability in its reply to the petition. The date of default was 29.02.2020. The Corporate Debtor is incorporated on 07.04.1981.
Prarthna Private…
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