M/s Tata Blue Scope Steel Limited filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate insolvency resolution process against M/s Richa Industries Limited, the respondent-corporate debtor. The petitioner, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of Non Alloy Steel Coils. The petitioner company was incorporated on 09.02.2005. The respondent company was incorporated on 15.09.1993. The petitioner filed the resolution of the Board of Directors of the company dated 19.11.2013 authorising Mr.Riten Choudhury, Managing Director of the petitioner company to represent the petitioner company in legal matters and proceedings before the Court and other Government authorities. The matter was
…M/s Tata Blue Scope Steel Limited (operational creditor) filed a petition against M/s Richa Industries Limited (corporate debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating insolvency resolution process due to unpaid dues for the supply of Non Alloy Steel Coils. The corporate debtor approached the operational creditor in February 2017 for the supply of goods for its project in Kashipur, Uttarakhand. A purchase order was issued on 28.02.2017, and a sales contract was entered into on the same date. The corporate debtor made an initial payment of ₹14,42,843.36. The operational creditor issued a commercial invoice dated 29.04.2017 for part delivery of goods worth ₹16,77,132.86 and a bill of exchange for ₹7,17,598.55. A letter of credit
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The petitioner company,…
The respondent company,…
M/s Tata Blue Scope Steel Limited filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate insolvency resolution process against M/s Richa Industries Limited, the respondent-corporate debtor. The petitioner, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of Non Alloy Steel Coils. The petitioner company was incorporated on 09.02.2005. The respondent company was incorporated on 15.09.1993. The petitioner filed the resolution of the Board of Directors of the company dated 19.11.2013 authorising Mr.Riten Choudhury, Managing Director of the petitioner company to represent the petitioner company in legal matters and proceedings before the Court and other Government authorities. The matter was
…M/s Tata Blue Scope Steel Limited (operational creditor) filed a petition against M/s Richa Industries Limited (corporate debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating insolvency resolution process due to unpaid dues for the supply of Non Alloy Steel Coils. The corporate debtor approached the operational creditor in February 2017 for the supply of goods for its project in Kashipur, Uttarakhand. A purchase order was issued on 28.02.2017, and a sales contract was entered into on the same date. The corporate debtor made an initial payment of ₹14,42,843.36. The operational creditor issued a commercial invoice dated 29.04.2017 for part delivery of goods worth ₹16,77,132.86 and a bill of exchange for ₹7,17,598.55. A letter of credit
…The petitioner company,…
The respondent company,…