Ontic Finserve Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Safal Securities Limited, the corporate debtor, for non-payment of dues. The operational creditor claimed an amount of Rs. 19,26,984.67 due from the corporate debtor on account of non-payment towards the purchase of shares and other securities. The debt had fallen due with effect from 5th January, 2017 and 25th August, 2016. The Adjudicating Authority noted that the respondent/corporate debtor failed to raise any reply/dispute against the demand notice issued by the applicant and did not appear before the bench despite paper
…Ontic Finserve Limited (operational creditor) filed a petition against Safal Securities Limited (corporate debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for Rs. 19,26,984.67, representing non-payment towards the purchase of shares and other securities. The debt fell due on 5th January, 2017, and 25th August, 2016. The operational creditor submitted documents including computation of the debt, receipts, demand letters, and the corporate debtor's ledger account. The corporate debtor did not respond to the demand notice or appear before the bench. The operational creditor is a registered private limited company with identification number L65910GJ1995PLC025904. The corporate debtor is a company registered under the Companies Act,
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Debt fell due…
Debt fell due…
Ontic Finserve Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Safal Securities Limited, the corporate debtor, for non-payment of dues. The operational creditor claimed an amount of Rs. 19,26,984.67 due from the corporate debtor on account of non-payment towards the purchase of shares and other securities. The debt had fallen due with effect from 5th January, 2017 and 25th August, 2016. The Adjudicating Authority noted that the respondent/corporate debtor failed to raise any reply/dispute against the demand notice issued by the applicant and did not appear before the bench despite paper
…Ontic Finserve Limited (operational creditor) filed a petition against Safal Securities Limited (corporate debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for Rs. 19,26,984.67, representing non-payment towards the purchase of shares and other securities. The debt fell due on 5th January, 2017, and 25th August, 2016. The operational creditor submitted documents including computation of the debt, receipts, demand letters, and the corporate debtor's ledger account. The corporate debtor did not respond to the demand notice or appear before the bench. The operational creditor is a registered private limited company with identification number L65910GJ1995PLC025904. The corporate debtor is a company registered under the Companies Act,
…Debt fell due…
Debt fell due…