Haresh Trading Company, an operational creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Sam Alloys Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payment of ₹6,89,820.00 as principal and ₹8,74,503.00 as interest as on 20.12.2013.
Haresh Trading Company, an operational creditor, filed a petition under Section 9 of the IBC against Sam Alloys Private Limited, a corporate debtor, seeking to initiate CIRP. The operational creditor claimed that the corporate debtor defaulted on a payment of ₹6,89,820.00 as principal and ₹8,74,503.00 as interest as on 20.12.2013, based on invoice No.206 dated 20.12.2013. The corporate debtor contested the claim, stating that there was an ongoing dispute regarding the invoice and that the petition was filed after the expiry of the limitation period. The corporate debtor also claimed that the materials supplied were of inferior quality and had been damaged by rain during transportation. The operational creditor served a demand notice in Form 3 dated 01.02.2019. The
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Sam Alloys Private…
Invoice No. 206 was…
Haresh Trading Company, an operational creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Sam Alloys Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payment of ₹6,89,820.00 as principal and ₹8,74,503.00 as interest as on 20.12.2013.
Haresh Trading Company, an operational creditor, filed a petition under Section 9 of the IBC against Sam Alloys Private Limited, a corporate debtor, seeking to initiate CIRP. The operational creditor claimed that the corporate debtor defaulted on a payment of ₹6,89,820.00 as principal and ₹8,74,503.00 as interest as on 20.12.2013, based on invoice No.206 dated 20.12.2013. The corporate debtor contested the claim, stating that there was an ongoing dispute regarding the invoice and that the petition was filed after the expiry of the limitation period. The corporate debtor also claimed that the materials supplied were of inferior quality and had been damaged by rain during transportation. The operational creditor served a demand notice in Form 3 dated 01.02.2019. The
…Sam Alloys Private…
Invoice No. 206 was…