The case involves an application filed by Kamachi Industries Ltd, the Operational Creditor, against Shree Manickkam Infrastructure Pvt Ltd, the Corporate Debtor, 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. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
Kamachi Industries Ltd (Operational Creditor) filed an application against Shree Manickkam Infrastructure Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Operational Creditor for the supply of TMT Bars Steel and placed orders. The Operational Creditor sold and delivered the TMT Bars to the Corporate Debtor and raised several invoices. The Operational Creditor claimed an outstanding debt of Rs. 24,05,756/- as principal and Rs. 6,40,846/- as interest, totaling Rs. 30,46,602/- as of 26.12.2016. The Corporate Debtor made a part payment of Rs. 5,00,000/- on 26.12.2016 for one invoice, but payments for the remaining five invoices remained outstanding. The Operational Creditor issued a demand notice
…Sign in to view the parties.
The Operational Creditor issued a Demand…
The Registry was directed to issue notice to…
The case involves an application filed by Kamachi Industries Ltd, the Operational Creditor, against Shree Manickkam Infrastructure Pvt Ltd, the Corporate Debtor, 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. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
Kamachi Industries Ltd (Operational Creditor) filed an application against Shree Manickkam Infrastructure Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Operational Creditor for the supply of TMT Bars Steel and placed orders. The Operational Creditor sold and delivered the TMT Bars to the Corporate Debtor and raised several invoices. The Operational Creditor claimed an outstanding debt of Rs. 24,05,756/- as principal and Rs. 6,40,846/- as interest, totaling Rs. 30,46,602/- as of 26.12.2016. The Corporate Debtor made a part payment of Rs. 5,00,000/- on 26.12.2016 for one invoice, but payments for the remaining five invoices remained outstanding. The Operational Creditor issued a demand notice
…The Operational Creditor issued a Demand…
The Registry was directed to issue notice to…