Argentium International Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against UTM Engineering Private Limited, alleging default in payment for goods supplied. The applicant claimed that the corporate debtor had placed job orders, and invoices were raised between 20.08.2017 and 18.01.2018, but the corporate debtor failed to make payments. A demand notice was issued on 20.09.2018 under Section 8 of the IBC, which the corporate debtor did not reply to or make any payment towards.
Argentium International Private Limited (the applicant/operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against UTM Engineering Private Limited (the corporate debtor). The applicant claimed that the corporate debtor had placed job orders for the supply of goods, and the applicant had supplied the goods accordingly. Invoices were raised between 20.08.2017 and 18.01.2018. The corporate debtor failed to make payments against these invoices, leading to a default. A demand notice was issued on 20.09.2018 under Section 8 of the IBC, which was duly delivered to the corporate debtor. The corporate debtor neither replied to the notice nor made any payment. The outstanding amount claimed by the applicant was Rs.
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Argentium International Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against UTM Engineering Private Limited, alleging default in payment for goods supplied. The applicant claimed that the corporate debtor had placed job orders, and invoices were raised between 20.08.2017 and 18.01.2018, but the corporate debtor failed to make payments. A demand notice was issued on 20.09.2018 under Section 8 of the IBC, which the corporate debtor did not reply to or make any payment towards.
Argentium International Private Limited (the applicant/operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against UTM Engineering Private Limited (the corporate debtor). The applicant claimed that the corporate debtor had placed job orders for the supply of goods, and the applicant had supplied the goods accordingly. Invoices were raised between 20.08.2017 and 18.01.2018. The corporate debtor failed to make payments against these invoices, leading to a default. A demand notice was issued on 20.09.2018 under Section 8 of the IBC, which was duly delivered to the corporate debtor. The corporate debtor neither replied to the notice nor made any payment. The outstanding amount claimed by the applicant was Rs.
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