ABN Trade Link Private Limited filed a company petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sonarch International Private Limited, alleging default in payment of Rs. 60,98,19,636/-. The petitioner claimed to have supplied vitrified tiles, MS pipes, and TMT bars to the corporate debtor between 2013 and 2015. The corporate debtor acknowledged the liability in 2017.
ABN Trade Link Private Limited (the Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sonarch International Private Limited (the Corporate Debtor). The Petitioner claimed that the Corporate Debtor defaulted in making payment of Rs. 60,98,19,636/-, which included interest at 24% per annum. The Petitioner had supplied vitrified tiles, MS pipes, and TMT bars to the Corporate Debtor between April 1, 2013, and March 31, 2015, and the last payment was received on March 30, 2015. The Corporate Debtor acknowledged the liability on November 1, 2017. After repeated requests, the Petitioner issued a recall notice on October 15, 2017, and a demand notice on June 7, 2019, under Section 8 of the IBC. The Corporate Debtor's counsel
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The Petitioner supplied…
The period during which…
ABN Trade Link Private Limited filed a company petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sonarch International Private Limited, alleging default in payment of Rs. 60,98,19,636/-. The petitioner claimed to have supplied vitrified tiles, MS pipes, and TMT bars to the corporate debtor between 2013 and 2015. The corporate debtor acknowledged the liability in 2017.
ABN Trade Link Private Limited (the Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sonarch International Private Limited (the Corporate Debtor). The Petitioner claimed that the Corporate Debtor defaulted in making payment of Rs. 60,98,19,636/-, which included interest at 24% per annum. The Petitioner had supplied vitrified tiles, MS pipes, and TMT bars to the Corporate Debtor between April 1, 2013, and March 31, 2015, and the last payment was received on March 30, 2015. The Corporate Debtor acknowledged the liability on November 1, 2017. After repeated requests, the Petitioner issued a recall notice on October 15, 2017, and a demand notice on June 7, 2019, under Section 8 of the IBC. The Corporate Debtor's counsel
…The Petitioner supplied…
The period during which…