The case involves an application filed by Maheshwari Industries, an operational creditor, against Raghuveer Urban Construction Company Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The operational creditor claimed an outstanding operational debt of ₹1,65,88,542/-, comprising principal and interest, for the supply of G.I. Pipes based on purchase orders issued by the corporate debtor. The corporate debtor allegedly made some payments but several invoices remained outstanding. The operational creditor issued a demand notice, but the corporate debtor disputed the claim, alleging shortcomings in the quality of the supplied pipes and claiming that some goods were returned.
Maheshwari Industries (Operational Creditor) supplied G.I. Pipes to Raghuveer Urban Construction Company Pvt. Ltd. (Corporate Debtor) based on purchase orders. The Operational Creditor raised invoices for the supplied goods. The Corporate Debtor made some payments, but an amount of ₹78,24,157/- (principal) remained outstanding. The Operational Creditor claimed an additional ₹87,64,385/- as interest. The Operational Creditor issued a demand notice on 10.11.2017, which was received by the Corporate Debtor on 14.11.2017. The Corporate Debtor replied on 23.11.2017, alleging that the supplied pipes were of inferior quality and that some goods were returned. The Operational Creditor filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016. The
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M/s. Maheshwari…
Outstanding Operational Debt of ₹1,65,88,542/-…
The case involves an application filed by Maheshwari Industries, an operational creditor, against Raghuveer Urban Construction Company Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016. The operational creditor claimed an outstanding operational debt of ₹1,65,88,542/-, comprising principal and interest, for the supply of G.I. Pipes based on purchase orders issued by the corporate debtor. The corporate debtor allegedly made some payments but several invoices remained outstanding. The operational creditor issued a demand notice, but the corporate debtor disputed the claim, alleging shortcomings in the quality of the supplied pipes and claiming that some goods were returned.
Maheshwari Industries (Operational Creditor) supplied G.I. Pipes to Raghuveer Urban Construction Company Pvt. Ltd. (Corporate Debtor) based on purchase orders. The Operational Creditor raised invoices for the supplied goods. The Corporate Debtor made some payments, but an amount of ₹78,24,157/- (principal) remained outstanding. The Operational Creditor claimed an additional ₹87,64,385/- as interest. The Operational Creditor issued a demand notice on 10.11.2017, which was received by the Corporate Debtor on 14.11.2017. The Corporate Debtor replied on 23.11.2017, alleging that the supplied pipes were of inferior quality and that some goods were returned. The Operational Creditor filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016. The
…M/s. Maheshwari…
Outstanding Operational Debt of ₹1,65,88,542/-…