The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by TDT Copper Limited (the applicant), an operational creditor, against Ujala Pumps Pvt. Ltd. (the respondent), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claims that the respondent owes them a sum of Rs. 9,94,311/- as of November 2015, for copper items purchased. The respondent raised objections, claiming discrepancies in the statements of accounts and alleging that the applicant owes them money. The applicant contends that the respondent has admitted to accepting the goods and has failed to establish any pending dispute.
TDT Copper Limited (applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ujala Pumps Pvt. Ltd. (respondent), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claimed to be an operational creditor, stating that the respondent owed them Rs. 9,94,311/- as of November 2015, for copper items purchased. The applicant issued a demand notice to the respondent on 25.07.2017, under Section 8 of the IBC. The respondent failed to repay the outstanding amount despite the demand notice. The respondent filed a reply objecting to the application, claiming discrepancies in the statements of accounts and alleging that the applicant owed them money. The last payment received by the operational creditor
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Rs. 9,94,311/- is…
Applicant issued a demand notice to the debtor…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by TDT Copper Limited (the applicant), an operational creditor, against Ujala Pumps Pvt. Ltd. (the respondent), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claims that the respondent owes them a sum of Rs. 9,94,311/- as of November 2015, for copper items purchased. The respondent raised objections, claiming discrepancies in the statements of accounts and alleging that the applicant owes them money. The applicant contends that the respondent has admitted to accepting the goods and has failed to establish any pending dispute.
TDT Copper Limited (applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ujala Pumps Pvt. Ltd. (respondent), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claimed to be an operational creditor, stating that the respondent owed them Rs. 9,94,311/- as of November 2015, for copper items purchased. The applicant issued a demand notice to the respondent on 25.07.2017, under Section 8 of the IBC. The respondent failed to repay the outstanding amount despite the demand notice. The respondent filed a reply objecting to the application, claiming discrepancies in the statements of accounts and alleging that the applicant owed them money. The last payment received by the operational creditor
…Rs. 9,94,311/- is…
Applicant issued a demand notice to the debtor…