Raychem-RPG Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Soura Natural Energy Solutions Pvt. Ltd, the Corporate Debtor, for recovery of defaulted payment of operational debt amounting to Rs. 4,42,72,038.61/-. The debt comprised Rs. 3,25,67,246.45/- on account of sale of goods and Rs. 1,17,04,792.16/- on account of interest. The Operational Creditor claimed that the Corporate Debtor requested them to supply goods as per agreed terms, promising payment within one month of invoice issuance, including interest. The Corporate Debtor defaulted on 11 invoices. The Operational Creditor issued a demand notice on 23.12.2020 under Section 8 of the IBC.
Raychem-RPG Private Limited (Operational Creditor) supplied goods to Soura Natural Energy Solutions Pvt. Ltd (Corporate Debtor) based on agreed terms, with payment expected within one month of invoice. The total outstanding amount was Rs. 4,42,72,038.61/-, including Rs. 3,25,67,246.45/- for goods and Rs. 1,17,04,792.16/- for interest. The Corporate Debtor defaulted on 11 invoices. The Operational Creditor issued a demand notice on 23.12.2020. The Corporate Debtor claimed ongoing compromise talks, payments made, and reconciliation needed, citing COVID-19 related delays in payments from government organizations. The Corporate Debtor admitted the debt but failed to pay within the promised three months. The Corporate Debtor did not reply to the demand notice under Section
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Operational Creditor issued a demand notice to…
Operational Creditor…
Raychem-RPG Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Soura Natural Energy Solutions Pvt. Ltd, the Corporate Debtor, for recovery of defaulted payment of operational debt amounting to Rs. 4,42,72,038.61/-. The debt comprised Rs. 3,25,67,246.45/- on account of sale of goods and Rs. 1,17,04,792.16/- on account of interest. The Operational Creditor claimed that the Corporate Debtor requested them to supply goods as per agreed terms, promising payment within one month of invoice issuance, including interest. The Corporate Debtor defaulted on 11 invoices. The Operational Creditor issued a demand notice on 23.12.2020 under Section 8 of the IBC.
Raychem-RPG Private Limited (Operational Creditor) supplied goods to Soura Natural Energy Solutions Pvt. Ltd (Corporate Debtor) based on agreed terms, with payment expected within one month of invoice. The total outstanding amount was Rs. 4,42,72,038.61/-, including Rs. 3,25,67,246.45/- for goods and Rs. 1,17,04,792.16/- for interest. The Corporate Debtor defaulted on 11 invoices. The Operational Creditor issued a demand notice on 23.12.2020. The Corporate Debtor claimed ongoing compromise talks, payments made, and reconciliation needed, citing COVID-19 related delays in payments from government organizations. The Corporate Debtor admitted the debt but failed to pay within the promised three months. The Corporate Debtor did not reply to the demand notice under Section
…Operational Creditor issued a demand notice to…
Operational Creditor…