Chennai Ferrous Industries Limited filed a company petition against Surya Balaji Steels Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging default in payment of dues. The petitioner, an operational creditor, claimed that the respondent, the corporate debtor, failed to make payments for sponge iron pellets supplied under various invoices. The petitioner issued a demand notice on 27.03.2017, seeking payment of Rs. 84,56,464/- inclusive of interest.
Chennai Ferrous Industries Limited (the Petitioner/Operational Creditor) is engaged in the manufacturing of sponge iron. Surya Balaji Steels Private Limited (the Respondent/Corporate Debtor) is engaged in the business of manufacturing steel. The Respondent approached the Petitioner to purchase Sponge Iron Pellets under various specifications. The Petitioner supplied the products under specified invoices. The goods were delivered on a credit basis. The Respondent failed to make payments towards the debt from 21.03.2014. The Petitioner sent a Demand Notice dated 27.03.2017, claiming Rs. 84,56,464/- inclusive of interest. The Respondent did not reply to the Demand Notice and did not appear before the Adjudicating Authority. The Petitioner claimed to be an Operational
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Respondent has not made…
Demand Notice dated…
Chennai Ferrous Industries Limited filed a company petition against Surya Balaji Steels Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging default in payment of dues. The petitioner, an operational creditor, claimed that the respondent, the corporate debtor, failed to make payments for sponge iron pellets supplied under various invoices. The petitioner issued a demand notice on 27.03.2017, seeking payment of Rs. 84,56,464/- inclusive of interest.
Chennai Ferrous Industries Limited (the Petitioner/Operational Creditor) is engaged in the manufacturing of sponge iron. Surya Balaji Steels Private Limited (the Respondent/Corporate Debtor) is engaged in the business of manufacturing steel. The Respondent approached the Petitioner to purchase Sponge Iron Pellets under various specifications. The Petitioner supplied the products under specified invoices. The goods were delivered on a credit basis. The Respondent failed to make payments towards the debt from 21.03.2014. The Petitioner sent a Demand Notice dated 27.03.2017, claiming Rs. 84,56,464/- inclusive of interest. The Respondent did not reply to the Demand Notice and did not appear before the Adjudicating Authority. The Petitioner claimed to be an Operational
…Respondent has not made…
Demand Notice dated…