Gagan Ferrotech Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against RDG Interior Decoration Exterior Architecture Private Limited, alleging a default in payment of INR 7,69,415/-. The Corporate Debtor had placed orders for the purchase of TMT Bars, and the Operational Creditor supplied the goods and raised invoices. Despite issuing post-dated cheques, the cheques were dishonored due to insufficient balance. The Operational Creditor sent a demand notice, but the Corporate Debtor failed to make the payment.
M/s. Gagan Ferrotech Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. RDG Interior Decoration Exterior Architecture Private Limited (Corporate Debtor). The Corporate Debtor had placed orders for the purchase of TMT Bars, and the Operational Creditor supplied the goods and raised a Tax Invoice No GFL/17-18/03804 dated 24.10.2017 for Rs. 6,07,608/-. The Corporate Debtor issued two post-dated cheques towards payment, but both cheques were dishonored due to insufficient balance. The Operational Creditor sent a Demand Notice dated 16.04.2019 under Form 3 of the Code to the Corporate Debtor upon its failure to make payment of the due amount
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Gagan Ferrotech Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against RDG Interior Decoration Exterior Architecture Private Limited, alleging a default in payment of INR 7,69,415/-. The Corporate Debtor had placed orders for the purchase of TMT Bars, and the Operational Creditor supplied the goods and raised invoices. Despite issuing post-dated cheques, the cheques were dishonored due to insufficient balance. The Operational Creditor sent a demand notice, but the Corporate Debtor failed to make the payment.
M/s. Gagan Ferrotech Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. RDG Interior Decoration Exterior Architecture Private Limited (Corporate Debtor). The Corporate Debtor had placed orders for the purchase of TMT Bars, and the Operational Creditor supplied the goods and raised a Tax Invoice No GFL/17-18/03804 dated 24.10.2017 for Rs. 6,07,608/-. The Corporate Debtor issued two post-dated cheques towards payment, but both cheques were dishonored due to insufficient balance. The Operational Creditor sent a Demand Notice dated 16.04.2019 under Form 3 of the Code to the Corporate Debtor upon its failure to make payment of the due amount
…Corporate Debto…
Operational Creditor…