The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited (Operational Creditor), against Srikumaran Builders Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 52,49,850/- along with interest at 18% as principal amount due from the Corporate Debtor. The Operational Creditor had supplied Hallow core Bed, Structures and Design activities to the Corporate Debtor based on eight purchase orders and five invoices. The Corporate Debtor made part payments but failed to pay the entire amount despite repeated reminders. The Operational Creditor issued a demand notice on
…Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited, filed an application against Srikumaran Builders Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 52,49,850/- plus 18% interest from the due date until 29.05.2018, for supplying Hallow core Bed, Structures, and Design activities based on eight purchase orders and five invoices. The invoices were raised between 25.08.2016 and 11.07.2017. The Corporate Debtor made partial payments but failed to clear the dues despite reminders. A demand notice was issued on 29.05.2018 and received by the Corporate Debtor on 30.05.2018. The Corporate Debtor filed a counter-affidavit denying the allegations, stating that the applicant
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Operational Creditor issued a demand notice to…
The Corporate Debtor…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited (Operational Creditor), against Srikumaran Builders Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 52,49,850/- along with interest at 18% as principal amount due from the Corporate Debtor. The Operational Creditor had supplied Hallow core Bed, Structures and Design activities to the Corporate Debtor based on eight purchase orders and five invoices. The Corporate Debtor made part payments but failed to pay the entire amount despite repeated reminders. The Operational Creditor issued a demand notice on
…Muthuiah Thevar Rajapandian, RP of Unique Roof Private Limited, filed an application against Srikumaran Builders Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 52,49,850/- plus 18% interest from the due date until 29.05.2018, for supplying Hallow core Bed, Structures, and Design activities based on eight purchase orders and five invoices. The invoices were raised between 25.08.2016 and 11.07.2017. The Corporate Debtor made partial payments but failed to clear the dues despite reminders. A demand notice was issued on 29.05.2018 and received by the Corporate Debtor on 30.05.2018. The Corporate Debtor filed a counter-affidavit denying the allegations, stating that the applicant
…Operational Creditor issued a demand notice to…
The Corporate Debtor…