The case involves an application filed by Gainwell Commosales Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Rockwell Resources Earthmovers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,17,74,231/-. The Corporate Debtor disputed the claim, alleging that a sum of Rs. 29.00 lacs had been partly paid and that the Operational Creditor had unauthorizedly retained a machine worth Rs. 1,30,82,744/- causing them significant losses. The Operational Creditor denied these allegations.
Gainwell Commosales Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Rockwell Resources Earthmovers Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 1,17,74,231/- inclusive of interest, arising from transactions between 28.02.2017 and 28.06.2017 for the supply of CAT Oil and related products. The Corporate Debtor disputed the claim, stating that Rs. 29.00 lacs had been partly paid and that the Operational Creditor had unauthorizedly retained a machine worth Rs. 1,30,82,744/-, causing them losses. The Corporate Debtor also stated that there were pre-existing disputes. The Operational Creditor
…Sign in to view the parties.
Transactions between…
CAT Excavator 349D2,…
The case involves an application filed by Gainwell Commosales Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Rockwell Resources Earthmovers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,17,74,231/-. The Corporate Debtor disputed the claim, alleging that a sum of Rs. 29.00 lacs had been partly paid and that the Operational Creditor had unauthorizedly retained a machine worth Rs. 1,30,82,744/- causing them significant losses. The Operational Creditor denied these allegations.
Gainwell Commosales Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Rockwell Resources Earthmovers Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 1,17,74,231/- inclusive of interest, arising from transactions between 28.02.2017 and 28.06.2017 for the supply of CAT Oil and related products. The Corporate Debtor disputed the claim, stating that Rs. 29.00 lacs had been partly paid and that the Operational Creditor had unauthorizedly retained a machine worth Rs. 1,30,82,744/-, causing them losses. The Corporate Debtor also stated that there were pre-existing disputes. The Operational Creditor
…Transactions between…
CAT Excavator 349D2,…