The case involves a petition filed by Ashish Ispat Private Limited, an operational creditor, against Primuss Pipes and Tubes Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied H.R. coils to the corporate debtor, and invoices were issued. The corporate debtor failed to clear the outstanding amount despite reminders. A demand notice was issued under Section 8 of the IBC, 2016, demanding Rs. 1,05,88,978/- along with interest. Despite the demand notice, no payment was made. The corporate debtor stated that a settlement was under process and paid Rs. 10,00,000, but no further amount was disbursed.
Ashish Ispat Private Limited (operational creditor) supplied H.R. coils to Primuss Pipes and Tubes Limited (corporate debtor). Invoices were issued to the corporate debtor. The corporate debtor failed to pay the outstanding amount despite reminders. The last invoice was issued on 2019-05-28. A demand notice was issued on 2019-07-20 under Section 8 of the IBC, 2016, demanding Rs. 1,05,88,978/- along with interest. The demand notice was received by the corporate debtor. No payment was made. The corporate debtor claimed a settlement was in process and paid Rs. 10,00,000. No further amount was disbursed. The operational creditor filed a petition under Section 9 of the IBC. The petition was filed on 2019-08-28. The corporate debtor did not appear on several hearing dates.
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The last invoice was…
Demand notice issued under Section 8 of the…
The case involves a petition filed by Ashish Ispat Private Limited, an operational creditor, against Primuss Pipes and Tubes Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied H.R. coils to the corporate debtor, and invoices were issued. The corporate debtor failed to clear the outstanding amount despite reminders. A demand notice was issued under Section 8 of the IBC, 2016, demanding Rs. 1,05,88,978/- along with interest. Despite the demand notice, no payment was made. The corporate debtor stated that a settlement was under process and paid Rs. 10,00,000, but no further amount was disbursed.
Ashish Ispat Private Limited (operational creditor) supplied H.R. coils to Primuss Pipes and Tubes Limited (corporate debtor). Invoices were issued to the corporate debtor. The corporate debtor failed to pay the outstanding amount despite reminders. The last invoice was issued on 2019-05-28. A demand notice was issued on 2019-07-20 under Section 8 of the IBC, 2016, demanding Rs. 1,05,88,978/- along with interest. The demand notice was received by the corporate debtor. No payment was made. The corporate debtor claimed a settlement was in process and paid Rs. 10,00,000. No further amount was disbursed. The operational creditor filed a petition under Section 9 of the IBC. The petition was filed on 2019-08-28. The corporate debtor did not appear on several hearing dates.
…The last invoice was…
Demand notice issued under Section 8 of the…