The case involves an application filed by M/s. Bango Industries, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Insolvency Resolution Process against the respondent, M/s U T Ltd., the Corporate Debtor. The operational creditor claimed that the corporate debtor failed to pay outstanding dues for goods supplied and services rendered, despite repeated demands and notices.
M/s. Bango Industries, an operational creditor engaged in mechanical engineering work and supply of machine parts, filed an application against M/s U T Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the corporate debtor had outstanding dues for goods supplied and services rendered between 2011 and 2012, with invoices accepted by the corporate debtor. While the corporate debtor made some part payments, a significant amount remained unpaid. The applicant issued a demand notice on 18/09/2017, but the corporate debtor failed to discharge the debt. The corporate debtor contended that the claim was disputed, barred by limitation, and that the applicant was not an operational creditor. The corporate debtor
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The case involves an application filed by M/s. Bango Industries, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Insolvency Resolution Process against the respondent, M/s U T Ltd., the Corporate Debtor. The operational creditor claimed that the corporate debtor failed to pay outstanding dues for goods supplied and services rendered, despite repeated demands and notices.
M/s. Bango Industries, an operational creditor engaged in mechanical engineering work and supply of machine parts, filed an application against M/s U T Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the corporate debtor had outstanding dues for goods supplied and services rendered between 2011 and 2012, with invoices accepted by the corporate debtor. While the corporate debtor made some part payments, a significant amount remained unpaid. The applicant issued a demand notice on 18/09/2017, but the corporate debtor failed to discharge the debt. The corporate debtor contended that the claim was disputed, barred by limitation, and that the applicant was not an operational creditor. The corporate debtor
…Applicant raised bills…
Bills raised between…