The case involves an application filed by APL Apollo Tubes Ltd, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process against SAS Autocom Engineers India Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 9,14,109/- inclusive of interest, due and payable as of 07.02.2018, which the Corporate Debtor failed to pay. The Corporate Debtor received the notice but requested postponement of the hearing. The case was adjourned multiple times at the Corporate Debtor's request. Eventually, the Corporate Debtor was proceeded against ex-parte due to
…APL Apollo Tubes Ltd, the Operational Creditor, is in the business of manufacturing and selling steel pipes and tubes. SAS Autocom Engineers India Private Limited, the Corporate Debtor, is engaged in manufacturing clutch bundy pipes, hydraulic pipes, and air pipes. The Operational Creditor supplied steel tubes and pipes to the Corporate Debtor based on demand, and invoices were raised for these supplies. The last invoice for goods supplied was raised on 25.01.2014. The Operational Creditor received part payments totaling Rs. 8,98,742/- from the Corporate Debtor on various dates. The application was filed for the invoices that remained unpaid. As per the payment terms, the Corporate Debtor was required to make payments within 30 days of receiving the invoices, but
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The last invoice for goods supplied by the…
The Operational Creditor claimed an…
The case involves an application filed by APL Apollo Tubes Ltd, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process against SAS Autocom Engineers India Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 9,14,109/- inclusive of interest, due and payable as of 07.02.2018, which the Corporate Debtor failed to pay. The Corporate Debtor received the notice but requested postponement of the hearing. The case was adjourned multiple times at the Corporate Debtor's request. Eventually, the Corporate Debtor was proceeded against ex-parte due to
…APL Apollo Tubes Ltd, the Operational Creditor, is in the business of manufacturing and selling steel pipes and tubes. SAS Autocom Engineers India Private Limited, the Corporate Debtor, is engaged in manufacturing clutch bundy pipes, hydraulic pipes, and air pipes. The Operational Creditor supplied steel tubes and pipes to the Corporate Debtor based on demand, and invoices were raised for these supplies. The last invoice for goods supplied was raised on 25.01.2014. The Operational Creditor received part payments totaling Rs. 8,98,742/- from the Corporate Debtor on various dates. The application was filed for the invoices that remained unpaid. As per the payment terms, the Corporate Debtor was required to make payments within 30 days of receiving the invoices, but
…The last invoice for goods supplied by the…
The Operational Creditor claimed an…