The case involves a petition filed by M/s Becon Pipes Private Limited, an operational creditor, against TSL Electro Power Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an alleged default in settling an outstanding balance of Rs. 3,15,547/-. The operational creditor claimed that the corporate debtor failed to pay for the supply of conduit pipes and pipe fittings. The corporate debtor argued that there was no agreement on the payment of interest on the invoices and that they had already paid Rs. 2,17,252/- towards the principal amount.
M/s Becon Pipes Private Limited, the operational creditor, filed a petition against TSL Electro Power Private Limited, the corporate debtor, under Section 9 of the IBC, claiming a default of Rs. 3,15,547/-. The operational creditor supplied conduit pipes and pipe fittings to the corporate debtor. The corporate debtor placed purchase orders for these supplies. The operational creditor issued invoices amounting to Rs. 5,44,673/- and sent emails on 04.06.2018 and 14.09.2018. The corporate debtor did not dispute the invoices or emails before the demand notice was issued. A demand notice dated 28.05.2019 was sent by the operational creditor. After the demand notice, the corporate debtor agreed to pay Rs. 2,17,252/- as the principal sum, and a settlement agreement was
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Operational creditor…
Operational creditor…
The case involves a petition filed by M/s Becon Pipes Private Limited, an operational creditor, against TSL Electro Power Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an alleged default in settling an outstanding balance of Rs. 3,15,547/-. The operational creditor claimed that the corporate debtor failed to pay for the supply of conduit pipes and pipe fittings. The corporate debtor argued that there was no agreement on the payment of interest on the invoices and that they had already paid Rs. 2,17,252/- towards the principal amount.
M/s Becon Pipes Private Limited, the operational creditor, filed a petition against TSL Electro Power Private Limited, the corporate debtor, under Section 9 of the IBC, claiming a default of Rs. 3,15,547/-. The operational creditor supplied conduit pipes and pipe fittings to the corporate debtor. The corporate debtor placed purchase orders for these supplies. The operational creditor issued invoices amounting to Rs. 5,44,673/- and sent emails on 04.06.2018 and 14.09.2018. The corporate debtor did not dispute the invoices or emails before the demand notice was issued. A demand notice dated 28.05.2019 was sent by the operational creditor. After the demand notice, the corporate debtor agreed to pay Rs. 2,17,252/- as the principal sum, and a settlement agreement was
…Operational creditor…
Operational creditor…