M/S Natraj Transport, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S TRN Energy Private Limited, the corporate debtor, due to unpaid operational debt. The operational debt arose from coal transportation services provided by Natraj Transport to TRN Energy. Natraj Transport transported coal to the power plant of TRN Energy based on an agreement. The corporate debtor acknowledged the debt in emails and excel sheets but failed to make full payment.
M/S Natraj Transport, an operational creditor, provided coal transportation services to M/S TRN Energy Private Limited, the corporate debtor. An agreement existed between the parties for the transportation of coal to the power plant of the corporate debtor. The operational creditor sent its trucks to 'Swastik Washery' or 'Kushmanda Mines' for coal loading. The corporate debtor used to send monthly emails with attached excel sheets confirming the total amount of coal transported, including transportation rates. The operational creditor raised 13 invoices from May 2019 to January 2020, totaling Rs. 22,33,19,044.90. The corporate debtor made payments of Rs. 12,32,15,033 and paid TDS of Rs. 44,66,386. The last payment was received in December 2019, leaving a principal
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Operational Creditor…
The last payment was…
M/S Natraj Transport, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S TRN Energy Private Limited, the corporate debtor, due to unpaid operational debt. The operational debt arose from coal transportation services provided by Natraj Transport to TRN Energy. Natraj Transport transported coal to the power plant of TRN Energy based on an agreement. The corporate debtor acknowledged the debt in emails and excel sheets but failed to make full payment.
M/S Natraj Transport, an operational creditor, provided coal transportation services to M/S TRN Energy Private Limited, the corporate debtor. An agreement existed between the parties for the transportation of coal to the power plant of the corporate debtor. The operational creditor sent its trucks to 'Swastik Washery' or 'Kushmanda Mines' for coal loading. The corporate debtor used to send monthly emails with attached excel sheets confirming the total amount of coal transported, including transportation rates. The operational creditor raised 13 invoices from May 2019 to January 2020, totaling Rs. 22,33,19,044.90. The corporate debtor made payments of Rs. 12,32,15,033 and paid TDS of Rs. 44,66,386. The last payment was received in December 2019, leaving a principal
…Operational Creditor…
The last payment was…