The Operational Creditor filed an application under Section 9 of the IBC to initiate CIRP against the Corporate Debtor due to its failure to pay an outstanding amount of Rs. 1,06,68,674/- for supplied goods. The Corporate Debtor admitted the debt but requested two years to repay due to financial crisis.
M/s APCO Motors, the operational creditor, through its proprietor Ms. Naseem Arif, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s PSR Metals Private Limited, the corporate debtor, for an outstanding amount of Rs. 1,06,68,674/-. The stated date of default was March 31, 2024.
…The Operational Creditor supplied lead…
The Corporate Debtor…
Sign in to view related legal provisions.
The Operational Creditor filed an application under Section 9 of the IBC to initiate CIRP against the Corporate Debtor due to its failure to pay an outstanding amount of Rs. 1,06,68,674/- for supplied goods. The Corporate Debtor admitted the debt but requested two years to repay due to financial crisis.
M/s APCO Motors, the operational creditor, through its proprietor Ms. Naseem Arif, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s PSR Metals Private Limited, the corporate debtor, for an outstanding amount of Rs. 1,06,68,674/-. The stated date of default was March 31, 2024.
…The Operational Creditor supplied lead…
The Corporate Debtor…
Sign in to view related legal provisions.