Sakthi Energy Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Servalakshmi Paper Ltd. The petitioner sought the initiation of the Corporate Insolvency Resolution Process (CIRP) and the appointment of an Interim Resolution Professional (IRP). The Corporate Debtor failed to appear despite multiple notices, including email communications and speed post, leading the court to proceed ex parte.
Sakthi Energy Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Servalakshmi Paper Ltd. (Corporate Debtor) due to an outstanding debt of Rs. 10,62,04,523/-. The Corporate Debtor failed to make any payments. The Operational Creditor sent a statutory notice on 18.05.2017, demanding the sum, but received no reply. The Corporate Debtor was notified via speed post on 05.06.2017, with delivery confirmed on 07.06.2017, and through email communications on 09.06.2017 and 10.06.2017. Despite these notices, the Corporate Debtor did not appear for the hearing. The Corporate Debtor had previously admitted the claim of the Petitioner. The Operational Creditor filed an affidavit stating that the Corporate
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Operational Creditor filed an application…
Operational Creditor sent a statutory notice…
Sakthi Energy Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Servalakshmi Paper Ltd. The petitioner sought the initiation of the Corporate Insolvency Resolution Process (CIRP) and the appointment of an Interim Resolution Professional (IRP). The Corporate Debtor failed to appear despite multiple notices, including email communications and speed post, leading the court to proceed ex parte.
Sakthi Energy Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Servalakshmi Paper Ltd. (Corporate Debtor) due to an outstanding debt of Rs. 10,62,04,523/-. The Corporate Debtor failed to make any payments. The Operational Creditor sent a statutory notice on 18.05.2017, demanding the sum, but received no reply. The Corporate Debtor was notified via speed post on 05.06.2017, with delivery confirmed on 07.06.2017, and through email communications on 09.06.2017 and 10.06.2017. Despite these notices, the Corporate Debtor did not appear for the hearing. The Corporate Debtor had previously admitted the claim of the Petitioner. The Operational Creditor filed an affidavit stating that the Corporate
…Operational Creditor filed an application…
Operational Creditor sent a statutory notice…