M/s. Kishore and Company, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Balaji Metallics Private Limited, the corporate debtor, due to non-payment of Rs. 31,20,806/- along with 18% interest per annum. The operational creditor and corporate debtor had a contract for the transportation of linkage coal. The operational creditor transported the goods as agreed, and generated invoices. The corporate debtor made partial payments, but a significant amount remained outstanding. The operational creditor issued a demand notice under Section 8 of the IBC, which was received by the corporate debtor, but no reply or dispute was filed.
M/s. Kishore and Company (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Sri Balaji Metallics Private Limited (Corporate Debtor) for non-payment of Rs. 31,20,806/- plus 18% interest. The Operational Creditor and Corporate Debtor had a contract for coal transportation from October 2014 to May 2016. The Operational Creditor transported the goods and raised invoices totaling Rs. 53,66,660/-, after deductions. The Corporate Debtor paid Rs. 21,92,374/- against one bill. The remaining amount of Rs. 31,20,806/- remained unpaid. The Corporate Debtor deposited TDS amounts of Rs. 15,407/- and Rs. 16,150/- against two pending invoices. A demand notice was issued on 07-01-2018 and received on 10-01-2018,
…Sign in to view the parties.
Contract between…
Contract between…
M/s. Kishore and Company, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Balaji Metallics Private Limited, the corporate debtor, due to non-payment of Rs. 31,20,806/- along with 18% interest per annum. The operational creditor and corporate debtor had a contract for the transportation of linkage coal. The operational creditor transported the goods as agreed, and generated invoices. The corporate debtor made partial payments, but a significant amount remained outstanding. The operational creditor issued a demand notice under Section 8 of the IBC, which was received by the corporate debtor, but no reply or dispute was filed.
M/s. Kishore and Company (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Sri Balaji Metallics Private Limited (Corporate Debtor) for non-payment of Rs. 31,20,806/- plus 18% interest. The Operational Creditor and Corporate Debtor had a contract for coal transportation from October 2014 to May 2016. The Operational Creditor transported the goods and raised invoices totaling Rs. 53,66,660/-, after deductions. The Corporate Debtor paid Rs. 21,92,374/- against one bill. The remaining amount of Rs. 31,20,806/- remained unpaid. The Corporate Debtor deposited TDS amounts of Rs. 15,407/- and Rs. 16,150/- against two pending invoices. A demand notice was issued on 07-01-2018 and received on 10-01-2018,
…Contract between…
Contract between…