The case involves an application filed by M/s. Annai Wind Farms India Private Limited (Operational Creditor) against M/s. Sri Karunambikai Mills Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is engaged in the business of electricity generation from wind. The Respondent/Corporate Debtor approached the petitioner and expressed its requirements for supply of electricity for the spinning mill run by the Respondent/Corporate Debtor. The Petitioner/OC has started supplying the electricity from the year 2005 and maintained a running bank account with respect to the supply of electricity made to the Respondent/CD. The payments were made by the Respondent/CD on an Adhoc basis from time to time.
M/s. Annai Wind Farms India Private Limited (Operational Creditor) filed an application against M/s. Sri Karunambikai Mills Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to unpaid operational debt. The Operational Creditor supplied electricity to the Corporate Debtor's spinning mill since 2005. Invoices were raised for Rs. 34,64,016/- which was due and payable by the Respondent as on 01.04.2015. The last invoice was raised on 31.05.2016. The Corporate Debtor made a last payment of Rs. 5,81,755/- on 24.05.2017. A balance confirmation of Rs. 38,53,278/- was issued by the Corporate Debtor on 08.05.2018. Two cheques for Rs. 3,00,000/- each, issued by the Corporate Debtor, were dishonored due to insufficient funds. A
…Sign in to view the parties.
The Petitioner/OC…
Rs. 34,64,016/- was due…
The case involves an application filed by M/s. Annai Wind Farms India Private Limited (Operational Creditor) against M/s. Sri Karunambikai Mills Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is engaged in the business of electricity generation from wind. The Respondent/Corporate Debtor approached the petitioner and expressed its requirements for supply of electricity for the spinning mill run by the Respondent/Corporate Debtor. The Petitioner/OC has started supplying the electricity from the year 2005 and maintained a running bank account with respect to the supply of electricity made to the Respondent/CD. The payments were made by the Respondent/CD on an Adhoc basis from time to time.
M/s. Annai Wind Farms India Private Limited (Operational Creditor) filed an application against M/s. Sri Karunambikai Mills Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to unpaid operational debt. The Operational Creditor supplied electricity to the Corporate Debtor's spinning mill since 2005. Invoices were raised for Rs. 34,64,016/- which was due and payable by the Respondent as on 01.04.2015. The last invoice was raised on 31.05.2016. The Corporate Debtor made a last payment of Rs. 5,81,755/- on 24.05.2017. A balance confirmation of Rs. 38,53,278/- was issued by the Corporate Debtor on 08.05.2018. Two cheques for Rs. 3,00,000/- each, issued by the Corporate Debtor, were dishonored due to insufficient funds. A
…The Petitioner/OC…
Rs. 34,64,016/- was due…