The case involves a petition filed by Mr. Vivek Agarwal, Proprietor of M/s Premier Steels (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Universal Construction Machinery and Equipment Limited (Corporate Debtor). The Operational Creditor alleges that the Corporate Debtor defaulted in making payment for goods supplied. The petition was filed before the Adjudicating Authority because the Corporate Debtor failed to pay Rs. 21,63,588/-.
In 2012, Universal Construction Machinery and Equipment Limited (Corporate Debtor) contacted M/s Premier Steels (Operational Creditor) for the supply of Iron & Steel Materials. The Corporate Debtor placed purchase orders for goods, which were delivered to its site in Rudrapur. The Operational Creditor supplied goods under three invoices, totaling Rs. 21,63,588/-, which were duly delivered and used by the Corporate Debtor. The debt fell due on 13.06.2018, the last date of the invoices. The Corporate Debtor did not raise any dispute regarding the quantity, specifications, or quality of the goods. The Operational Creditor served a demand notice on 30.04.2019, which was received by the Corporate Debtor, but no reply or defense was furnished. The petition was filed on
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Corporate Debtor…
Last date of invoices,…
The case involves a petition filed by Mr. Vivek Agarwal, Proprietor of M/s Premier Steels (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Universal Construction Machinery and Equipment Limited (Corporate Debtor). The Operational Creditor alleges that the Corporate Debtor defaulted in making payment for goods supplied. The petition was filed before the Adjudicating Authority because the Corporate Debtor failed to pay Rs. 21,63,588/-.
In 2012, Universal Construction Machinery and Equipment Limited (Corporate Debtor) contacted M/s Premier Steels (Operational Creditor) for the supply of Iron & Steel Materials. The Corporate Debtor placed purchase orders for goods, which were delivered to its site in Rudrapur. The Operational Creditor supplied goods under three invoices, totaling Rs. 21,63,588/-, which were duly delivered and used by the Corporate Debtor. The debt fell due on 13.06.2018, the last date of the invoices. The Corporate Debtor did not raise any dispute regarding the quantity, specifications, or quality of the goods. The Operational Creditor served a demand notice on 30.04.2019, which was received by the Corporate Debtor, but no reply or defense was furnished. The petition was filed on
…Corporate Debtor…
Last date of invoices,…