The case involves a petition filed by Mehsons Steel Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Oshiya Ferro Alloys Private Limited (Corporate Debtor) for failing to pay a total sum of ₹25,15,817.00. The Operational Creditor supplied TMT Bar to the Corporate Debtor based on a purchase order. Despite raising multiple invoices, the Corporate Debtor defaulted on payments. The Operational Creditor served a demand notice, but the Corporate Debtor did not reply. The Corporate Debtor admitted liability but failed to make the full payment.
Mehsons Steel Private Limited (Operational Creditor) supplied TMT Bars to Shree Oshiya Ferro Alloys Private Limited (Corporate Debtor) based on Purchase Order No. 19-20/008 dated 15.02.2018, valued at ₹1,12,18,968.00. The Operational Creditor raised eleven invoices during February 2019, totaling ₹1,12,06,175.00. The Corporate Debtor made partial payments totaling ₹86,90,358.00, leaving an outstanding debt of ₹25,15,817.00. The Operational Creditor issued a Demand Notice on 15.05.2019, which was served on the Corporate Debtor on 17.05.2019. The Corporate Debtor acknowledged the debt in its reply dated 12.09.2019 but failed to clear the outstanding dues. The date of default is stated as 28.03.2019. The invoices did not provide for interest in case of delayed payments.
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Purchase Order No.…
Corporate Debto…
The case involves a petition filed by Mehsons Steel Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Oshiya Ferro Alloys Private Limited (Corporate Debtor) for failing to pay a total sum of ₹25,15,817.00. The Operational Creditor supplied TMT Bar to the Corporate Debtor based on a purchase order. Despite raising multiple invoices, the Corporate Debtor defaulted on payments. The Operational Creditor served a demand notice, but the Corporate Debtor did not reply. The Corporate Debtor admitted liability but failed to make the full payment.
Mehsons Steel Private Limited (Operational Creditor) supplied TMT Bars to Shree Oshiya Ferro Alloys Private Limited (Corporate Debtor) based on Purchase Order No. 19-20/008 dated 15.02.2018, valued at ₹1,12,18,968.00. The Operational Creditor raised eleven invoices during February 2019, totaling ₹1,12,06,175.00. The Corporate Debtor made partial payments totaling ₹86,90,358.00, leaving an outstanding debt of ₹25,15,817.00. The Operational Creditor issued a Demand Notice on 15.05.2019, which was served on the Corporate Debtor on 17.05.2019. The Corporate Debtor acknowledged the debt in its reply dated 12.09.2019 but failed to clear the outstanding dues. The date of default is stated as 28.03.2019. The invoices did not provide for interest in case of delayed payments.
…Purchase Order No.…
Corporate Debto…