RDC Concrete (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Simplex Infrastructures Limited, the corporate debtor, for initiating the corporate insolvency resolution process. The application was based on outstanding dues for the supply of ready-mix concrete. The corporate debtor contested the application, claiming pre-existing disputes and raising concerns about the quality of supplies. The operational creditor argued that the corporate debtor had not raised any disputes earlier and had even made partial payments.
RDC Concrete (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Simplex Infrastructures Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on outstanding dues of Rs. 3,63,45,375/- as of April 30, 2018, for the supply of ready-mix concrete. The Operational Creditor had supplied ready-mix concrete to the Corporate Debtor for its projects in Mumbai and Kolkata, raising invoices totaling Rs. 5,51,42,721/-, against which the Corporate Debtor paid Rs. 2,31,38,380/-. The Operational Creditor issued a demand notice on April 2, 2018, which was received by the Corporate Debtor on April 4, 2018. The Corporate Debtor failed to
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The Insolven…
Operational Creditor sent numerous emails to…
RDC Concrete (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Simplex Infrastructures Limited, the corporate debtor, for initiating the corporate insolvency resolution process. The application was based on outstanding dues for the supply of ready-mix concrete. The corporate debtor contested the application, claiming pre-existing disputes and raising concerns about the quality of supplies. The operational creditor argued that the corporate debtor had not raised any disputes earlier and had even made partial payments.
RDC Concrete (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Simplex Infrastructures Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on outstanding dues of Rs. 3,63,45,375/- as of April 30, 2018, for the supply of ready-mix concrete. The Operational Creditor had supplied ready-mix concrete to the Corporate Debtor for its projects in Mumbai and Kolkata, raising invoices totaling Rs. 5,51,42,721/-, against which the Corporate Debtor paid Rs. 2,31,38,380/-. The Operational Creditor issued a demand notice on April 2, 2018, which was received by the Corporate Debtor on April 4, 2018. The Corporate Debtor failed to
…The Insolven…
Operational Creditor sent numerous emails to…