The case involves a petition filed by Mr. Kasi Vishwanadham, an Operational Creditor, against Surya Chakra Energy and Nastrructure Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claims an amount of Rs. 5,95,600/- (Rupees Five Lakhs Ninety-Five Thousand Six Hundred only) along with 18% interest is due from the Corporate Debtor for the supply of prawn seeds as of 15.04.2019. The Corporate Debtor acknowledged the debt but cited financial difficulties as the reason for non-payment.
Mr. Kasi Vishwanadham, an Operational Creditor, filed a petition against Surya Chakra Energy and Nastrructure Pvt Ltd, a Corporate Debtor, under Section 9 of the IBC, 2016. The claim is for Rs. 5,95,600/- plus 18% interest, totaling the amount due for the supply of prawn seeds as of 15.04.2019. The Operational Creditor is in the business of supplying prawn seeds to Aqua culture firms. In early 2019, the Corporate Debtor requested a large supply of prawn seeds, leading to an MOU on 26.03.2019 for supply on 30 days credit with 18% interest beyond that period. The Operational Creditor supplied 1861.25 Kgs of prawn seeds worth Rs. 5.96 Lakhs via invoice dated 15.04.2019. The Corporate Debtor acknowledged the debt in a reply affidavit dated 03.02.2021, citing financial
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Operational creditor and Corporate Debtor…
Operational creditor…
The case involves a petition filed by Mr. Kasi Vishwanadham, an Operational Creditor, against Surya Chakra Energy and Nastrructure Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claims an amount of Rs. 5,95,600/- (Rupees Five Lakhs Ninety-Five Thousand Six Hundred only) along with 18% interest is due from the Corporate Debtor for the supply of prawn seeds as of 15.04.2019. The Corporate Debtor acknowledged the debt but cited financial difficulties as the reason for non-payment.
Mr. Kasi Vishwanadham, an Operational Creditor, filed a petition against Surya Chakra Energy and Nastrructure Pvt Ltd, a Corporate Debtor, under Section 9 of the IBC, 2016. The claim is for Rs. 5,95,600/- plus 18% interest, totaling the amount due for the supply of prawn seeds as of 15.04.2019. The Operational Creditor is in the business of supplying prawn seeds to Aqua culture firms. In early 2019, the Corporate Debtor requested a large supply of prawn seeds, leading to an MOU on 26.03.2019 for supply on 30 days credit with 18% interest beyond that period. The Operational Creditor supplied 1861.25 Kgs of prawn seeds worth Rs. 5.96 Lakhs via invoice dated 15.04.2019. The Corporate Debtor acknowledged the debt in a reply affidavit dated 03.02.2021, citing financial
…Operational creditor and Corporate Debtor…
Operational creditor…