The case involves an application filed by Bharat Industrial Corporation, the Operational Creditor, against SSB Structural & Galvanising Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claims that the Corporate Debtor defaulted on a payment of Rs. 3,31,17,194, which includes a principal amount of Rs. 3,13,69,118 and interest of Rs. 17,48,076 calculated at 18% per annum from the due date of March 17, 2019. The Corporate Debtor supplied Zinc Ingots to the Corporate Debtor during the period from 22.01.2018 to 28.12.2018. The Corporate Debtor acknowledged the debt through various balance confirmation letters.
Bharat Industrial Corporation (Operational Creditor) filed a petition against SSB Structural & Galvanising Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 3,31,17,194. This amount includes a principal of Rs. 3,13,69,118 and interest of Rs. 17,48,076 calculated at 18% p.a. from March 17, 2019. The Operational Creditor supplied Zinc Ingots to the Corporate Debtor from January 22, 2018, to December 28, 2018. The Corporate Debtor acknowledged the debt through balance confirmation letters. The Operational Creditor issued a demand notice on July 8, 2019, which the Corporate Debtor received on July 15, 2019, but did not reply within the statutory 10-day period. The Corporate Debtor argued that the
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Operational Creditor supplied Zinc Ingots to…
Operational Creditor supplied Zinc Ingots to…
The case involves an application filed by Bharat Industrial Corporation, the Operational Creditor, against SSB Structural & Galvanising Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claims that the Corporate Debtor defaulted on a payment of Rs. 3,31,17,194, which includes a principal amount of Rs. 3,13,69,118 and interest of Rs. 17,48,076 calculated at 18% per annum from the due date of March 17, 2019. The Corporate Debtor supplied Zinc Ingots to the Corporate Debtor during the period from 22.01.2018 to 28.12.2018. The Corporate Debtor acknowledged the debt through various balance confirmation letters.
Bharat Industrial Corporation (Operational Creditor) filed a petition against SSB Structural & Galvanising Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 3,31,17,194. This amount includes a principal of Rs. 3,13,69,118 and interest of Rs. 17,48,076 calculated at 18% p.a. from March 17, 2019. The Operational Creditor supplied Zinc Ingots to the Corporate Debtor from January 22, 2018, to December 28, 2018. The Corporate Debtor acknowledged the debt through balance confirmation letters. The Operational Creditor issued a demand notice on July 8, 2019, which the Corporate Debtor received on July 15, 2019, but did not reply within the statutory 10-day period. The Corporate Debtor argued that the
…Operational Creditor supplied Zinc Ingots to…
Operational Creditor supplied Zinc Ingots to…