The Operational Creditor, M/s. Jackson Engineering Private Limited, filed a Company Petition against the Corporate Debtor, M/s. Refex Energy Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of ₹1,77,52,691. The Corporate Debtor had placed a Purchase Order on 16.08.2013 for the supply of five PV Boxes. The Creditor delivered, installed, and commissioned the PV Boxes. The Debtor made part payments, but a balance remained due. The Debtor issued cheques which were later dishonored. The Creditor initiated criminal proceedings for dishonor of cheque. The Creditor issued a Section-8 Notice on 29.11.2017 demanding payment.
M/s. Jackson Engineering Private Limited (Operational Creditor) filed a petition against M/s. Refex Energy Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of ₹1,77,52,691. The Corporate Debtor placed a Purchase Order on 16.08.2013 for five PV Boxes costing ₹5,30,40,000. The Creditor delivered, installed, and commissioned the PV Boxes. The Debtor made part payments, leaving a balance of ₹1,77,52,691. The Debtor issued a cheque bearing number 604147 dated 02.04.2014 and another cheque bearing number 613008 dated 28.08.2014, and another cheque dated 08.12.2014 bearing number 619708 for a sum of ₹1,73,61,691. The cheques were dishonored. The Creditor initiated criminal proceedings. The Creditor issued a Section-8 Notice on 29.11.2017. The Debtor
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The Operational Creditor, M/s. Jackson Engineering Private Limited, filed a Company Petition against the Corporate Debtor, M/s. Refex Energy Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of ₹1,77,52,691. The Corporate Debtor had placed a Purchase Order on 16.08.2013 for the supply of five PV Boxes. The Creditor delivered, installed, and commissioned the PV Boxes. The Debtor made part payments, but a balance remained due. The Debtor issued cheques which were later dishonored. The Creditor initiated criminal proceedings for dishonor of cheque. The Creditor issued a Section-8 Notice on 29.11.2017 demanding payment.
M/s. Jackson Engineering Private Limited (Operational Creditor) filed a petition against M/s. Refex Energy Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of ₹1,77,52,691. The Corporate Debtor placed a Purchase Order on 16.08.2013 for five PV Boxes costing ₹5,30,40,000. The Creditor delivered, installed, and commissioned the PV Boxes. The Debtor made part payments, leaving a balance of ₹1,77,52,691. The Debtor issued a cheque bearing number 604147 dated 02.04.2014 and another cheque bearing number 613008 dated 28.08.2014, and another cheque dated 08.12.2014 bearing number 619708 for a sum of ₹1,73,61,691. The cheques were dishonored. The Creditor initiated criminal proceedings. The Creditor issued a Section-8 Notice on 29.11.2017. The Debtor
…Corporate Debtor placed…
Debtor issued…