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 Bars to the Corporate Debtor based on a purchase order. The Corporate Debtor made partial payments, but a significant amount remained unpaid. The Operational Creditor issued 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 several payments, including ₹16,45,257.00 on 14.12.2018, ₹10,00,000.00 on 14.12.2018, ₹40,00,000.00 on 15.12.2018, ₹10,00,000.00 on 15.12.2018, and ₹10,45,101.00 on 28.03.2019. The date of default is stated as 28.03.2019. The total debt due and payable to the Operational Creditor is ₹25,15,817.00. The Operational Creditor served a Demand Notice in Form 3 dated 15.05.2019, which was served on the Corporate Debtor on 17.05.2019. The
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Purchase Order No. 19-20/008 issued by…
Corporate Debt…
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 Bars to the Corporate Debtor based on a purchase order. The Corporate Debtor made partial payments, but a significant amount remained unpaid. The Operational Creditor issued 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 several payments, including ₹16,45,257.00 on 14.12.2018, ₹10,00,000.00 on 14.12.2018, ₹40,00,000.00 on 15.12.2018, ₹10,00,000.00 on 15.12.2018, and ₹10,45,101.00 on 28.03.2019. The date of default is stated as 28.03.2019. The total debt due and payable to the Operational Creditor is ₹25,15,817.00. The Operational Creditor served a Demand Notice in Form 3 dated 15.05.2019, which was served on the Corporate Debtor on 17.05.2019. The
…Purchase Order No. 19-20/008 issued by…
Corporate Debt…