Padam Electronics, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Superchem Coatings Pvt. Ltd, the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on the corporate debtor's alleged default in paying an operational debt of Rs. 10,54,179. The operational creditor had supplied a Gas Fired Trolley Oven to the corporate debtor as per a purchase order dated 20.03.2018, with an invoice dated 10.08.2018. While the corporate debtor made payments for subsequent consignments, a portion of the amount for the goods sold under the invoice remained unpaid, citing defects in the goods.
Padam Electronics (Operational Creditor) supplied a Gas Fired Trolley Oven to Superchem Coatings Pvt. Ltd (Corporate Debtor) as per purchase order dated 2018-03-20 and invoice dated 2018-08-10. The Corporate Debtor made payments for subsequent consignments but did not fully pay for the goods sold under the 2018-08-10 invoice, claiming the goods were defective. The Operational Creditor issued a legal notice dated 2019-05-06 demanding payment. The Corporate Debtor replied on 2019-05-22, admitting part of the debt but disputing the actual amount, citing poor workmanship of the furnace. The Operational Creditor served a demand notice under Section 8 of IBC on 2019-07-26, but the Corporate Debtor did not reply or make payment. The Corporate Debtor claimed the oven burst in
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Padam Electronics, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Superchem Coatings Pvt. Ltd, the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on the corporate debtor's alleged default in paying an operational debt of Rs. 10,54,179. The operational creditor had supplied a Gas Fired Trolley Oven to the corporate debtor as per a purchase order dated 20.03.2018, with an invoice dated 10.08.2018. While the corporate debtor made payments for subsequent consignments, a portion of the amount for the goods sold under the invoice remained unpaid, citing defects in the goods.
Padam Electronics (Operational Creditor) supplied a Gas Fired Trolley Oven to Superchem Coatings Pvt. Ltd (Corporate Debtor) as per purchase order dated 2018-03-20 and invoice dated 2018-08-10. The Corporate Debtor made payments for subsequent consignments but did not fully pay for the goods sold under the 2018-08-10 invoice, claiming the goods were defective. The Operational Creditor issued a legal notice dated 2019-05-06 demanding payment. The Corporate Debtor replied on 2019-05-22, admitting part of the debt but disputing the actual amount, citing poor workmanship of the furnace. The Operational Creditor served a demand notice under Section 8 of IBC on 2019-07-26, but the Corporate Debtor did not reply or make payment. The Corporate Debtor claimed the oven burst in
…Date of the purchase…
Date of the inv…