The case involves an application filed by Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor) for a total outstanding amount of Rs. 24,71,337 plus interest. The Operational Creditor claimed to have supplied goods to the Corporate Debtor between 2012 and 2018. The Corporate Debtor denied the claim, stating that the petition was malicious and the claims were time-barred. The Adjudicating Authority directed the Operational Creditor to issue a fresh notice to the Corporate Debtor and make a paper publication to ensure service of notice.
Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed a total sum of Rs. 24,71,337 plus interest at 18% as of 31.03.2019 for goods supplied. The Operational Creditor had been supplying base metals like iron and stainless steel to the Corporate Debtor from 2012 to 2018 under various invoices and delivery challans. The Corporate Debtor made some payments towards the outstanding amount. The Operational Creditor submitted copies of invoices, GST bills, ledger accounts, and a confirmation letter dated 7th September 2019. The Corporate Debtor argued that the petition
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The Operational…
The Operational Creditor continued supplying…
The case involves an application filed by Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor) for a total outstanding amount of Rs. 24,71,337 plus interest. The Operational Creditor claimed to have supplied goods to the Corporate Debtor between 2012 and 2018. The Corporate Debtor denied the claim, stating that the petition was malicious and the claims were time-barred. The Adjudicating Authority directed the Operational Creditor to issue a fresh notice to the Corporate Debtor and make a paper publication to ensure service of notice.
Shree Bansi Metal & Alloys Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against S.S. Alloys Products Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed a total sum of Rs. 24,71,337 plus interest at 18% as of 31.03.2019 for goods supplied. The Operational Creditor had been supplying base metals like iron and stainless steel to the Corporate Debtor from 2012 to 2018 under various invoices and delivery challans. The Corporate Debtor made some payments towards the outstanding amount. The Operational Creditor submitted copies of invoices, GST bills, ledger accounts, and a confirmation letter dated 7th September 2019. The Corporate Debtor argued that the petition
…The Operational…
The Operational Creditor continued supplying…