Amrit Steels, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Tehri Iron & Steel Casting Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the corporate debtor's failure to pay an outstanding debt of Rs. 2,54,84,828/- for the supply of old iron scrap. The corporate debtor had approached Amrit Steels for the supply of old iron scrap, and the applicant supplied the same based on purchase orders, issuing invoices amounting to Rs. 4,48,82,739/- between April 28, 2017, and June 9, 2017. The corporate debtor made partial payments amounting to Rs. 1,44,50,000/- between June 15, 2017, and March 13, 2018, and also returned some
…Amrit Steels (the applicant/operational creditor) supplied old iron scrap to Tehri Iron & Steel Casting Ltd. (the respondent/corporate debtor) based on purchase orders. Invoices totaling Rs. 4,48,82,739/- were issued between April 28, 2017, and June 9, 2017. The corporate debtor made partial payments of Rs. 1,44,50,000/- between June 15, 2017, and March 13, 2018, and returned iron scrap, raising invoices between February 8, 2018, and February 23, 2018. An outstanding amount of Rs. 2,54,84,828/- remained unpaid. The applicant issued a notice under Section 8 of the Insolvency and Bankruptcy Code on March 19, 2018, when the corporate debtor failed to pay the balance. The corporate debtor did not reply to the demand notice or raise any dispute. The applicant has not
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Amrit Steels, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Tehri Iron & Steel Casting Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the corporate debtor's failure to pay an outstanding debt of Rs. 2,54,84,828/- for the supply of old iron scrap. The corporate debtor had approached Amrit Steels for the supply of old iron scrap, and the applicant supplied the same based on purchase orders, issuing invoices amounting to Rs. 4,48,82,739/- between April 28, 2017, and June 9, 2017. The corporate debtor made partial payments amounting to Rs. 1,44,50,000/- between June 15, 2017, and March 13, 2018, and also returned some
…Amrit Steels (the applicant/operational creditor) supplied old iron scrap to Tehri Iron & Steel Casting Ltd. (the respondent/corporate debtor) based on purchase orders. Invoices totaling Rs. 4,48,82,739/- were issued between April 28, 2017, and June 9, 2017. The corporate debtor made partial payments of Rs. 1,44,50,000/- between June 15, 2017, and March 13, 2018, and returned iron scrap, raising invoices between February 8, 2018, and February 23, 2018. An outstanding amount of Rs. 2,54,84,828/- remained unpaid. The applicant issued a notice under Section 8 of the Insolvency and Bankruptcy Code on March 19, 2018, when the corporate debtor failed to pay the balance. The corporate debtor did not reply to the demand notice or raise any dispute. The applicant has not
…Start date of the period during which Amrit…
End date of the period during which Amrit…