The case involves an application filed by Green Gold Global Resources Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against S.M. Ramcoal Importers Private Limited (Corporate Debtor) due to unpaid operational debt. The Operational Creditor supplied Non-Coking Indonesian Coal to the Corporate Debtor based on purchase orders. A settlement agreement was previously executed between the parties, but the Corporate Debtor failed to honor further payments after an initial payment of Rs. 1,00,000. The Operational Creditor issued a demand notice under Section 8 of the IBC, 2016, which the Corporate Debtor failed to comply with. The Operational Creditor then filed
…Green Gold Global Resources Private Limited (Operational Creditor) supplied Non-Coking Indonesian Coal to S.M. Ramcoal Importers Private Limited (Corporate Debtor) based on purchase orders. The Operational Creditor raised invoices for a total sum of Rs. 2,03,05,358. As per the Operational Creditor's books, the amount payable by the Corporate Debtor as of 12.09.2018 was Rs. 2,16,60,684. The Operational Creditor sent a demand notice in Form-3 under Section 8 of the IBC, 2016, demanding payment of Rs. 2,16,60,684, which included Rs. 2,04,05,358 for the supply of goods and Rs. 12,55,326 as interest. The Corporate Debtor failed to pay the dues or reply to the demand notice. The Operational Creditor then filed an application before the Tribunal in CP/1477/IB/2018 to initiate
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Transaction relating to…
Transaction relating to…
The case involves an application filed by Green Gold Global Resources Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against S.M. Ramcoal Importers Private Limited (Corporate Debtor) due to unpaid operational debt. The Operational Creditor supplied Non-Coking Indonesian Coal to the Corporate Debtor based on purchase orders. A settlement agreement was previously executed between the parties, but the Corporate Debtor failed to honor further payments after an initial payment of Rs. 1,00,000. The Operational Creditor issued a demand notice under Section 8 of the IBC, 2016, which the Corporate Debtor failed to comply with. The Operational Creditor then filed
…Green Gold Global Resources Private Limited (Operational Creditor) supplied Non-Coking Indonesian Coal to S.M. Ramcoal Importers Private Limited (Corporate Debtor) based on purchase orders. The Operational Creditor raised invoices for a total sum of Rs. 2,03,05,358. As per the Operational Creditor's books, the amount payable by the Corporate Debtor as of 12.09.2018 was Rs. 2,16,60,684. The Operational Creditor sent a demand notice in Form-3 under Section 8 of the IBC, 2016, demanding payment of Rs. 2,16,60,684, which included Rs. 2,04,05,358 for the supply of goods and Rs. 12,55,326 as interest. The Corporate Debtor failed to pay the dues or reply to the demand notice. The Operational Creditor then filed an application before the Tribunal in CP/1477/IB/2018 to initiate
…Transaction relating to…
Transaction relating to…