The case involves an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by Imperial Refractories, an operational creditor, against Super Iron Foundry Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied. The corporate debtor argued that there was a pre-existing dispute regarding the quality and quantity of the materials supplied.
Imperial Refractories, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Super Iron Foundry Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, with an outstanding amount of Rs. 18,48,170/- inclusive of interest. Three invoices totaling Rs. 16,97,417/- remained unpaid for supplies made in April, May, and June 2018. The corporate debtor, despite several requests, did not make the payment. The corporate debtor raised quality issues with the goods supplied and claimed a pre-existing dispute. The operational creditor served a notice under Section 8 of the IBC, but the
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Operational creditor made supplies to the…
Operational creditor made supplies to the…
The case involves an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by Imperial Refractories, an operational creditor, against Super Iron Foundry Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied. The corporate debtor argued that there was a pre-existing dispute regarding the quality and quantity of the materials supplied.
Imperial Refractories, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Super Iron Foundry Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, with an outstanding amount of Rs. 18,48,170/- inclusive of interest. Three invoices totaling Rs. 16,97,417/- remained unpaid for supplies made in April, May, and June 2018. The corporate debtor, despite several requests, did not make the payment. The corporate debtor raised quality issues with the goods supplied and claimed a pre-existing dispute. The operational creditor served a notice under Section 8 of the IBC, but the
…Operational creditor made supplies to the…
Operational creditor made supplies to the…