The case involves M/s. Balaji Timber Depot, an operational creditor, filing a petition against M/s. Quetzel Furniture Systems Private Limited, the corporate debtor, for defaulting on a payment of Rs. 13,41,900/- for the supply of timber. The petition was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP).
M/s. Balaji Timber Depot (the operational creditor) filed a petition against M/s. Quetzel Furniture Systems Private Limited (the corporate debtor) due to a default in payment of Rs. 13,41,900/- for timber supplied based on a purchase order dated 2015-09-03. The operational creditor provided invoices and demand notices. The corporate debtor's directors admitted the liability and default before the NCLT and had no objection to the initiation of CIRP. The corporate debtor was originally named Total Environment Woodwork Pvt. Ltd. The operational creditor proposed Shri Venkata Subbarao Kalva as the Interim Resolution Professional (IRP).
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The case involves M/s. Balaji Timber Depot, an operational creditor, filing a petition against M/s. Quetzel Furniture Systems Private Limited, the corporate debtor, for defaulting on a payment of Rs. 13,41,900/- for the supply of timber. The petition was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP).
M/s. Balaji Timber Depot (the operational creditor) filed a petition against M/s. Quetzel Furniture Systems Private Limited (the corporate debtor) due to a default in payment of Rs. 13,41,900/- for timber supplied based on a purchase order dated 2015-09-03. The operational creditor provided invoices and demand notices. The corporate debtor's directors admitted the liability and default before the NCLT and had no objection to the initiation of CIRP. The corporate debtor was originally named Total Environment Woodwork Pvt. Ltd. The operational creditor proposed Shri Venkata Subbarao Kalva as the Interim Resolution Professional (IRP).
Date of the purchase…
Date of the demand…