Action Construction Equipment Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against UTS Infratel Private Limited, the Corporate Debtor. The Operational Creditor alleged that the Corporate Debtor defaulted in payment of an outstanding debt of Rs. 5,49,061/- along with agreed interest, with the date of default being 09.10.2017. The Operational Creditor provided machinery on hire based on a work order issued by the Corporate Debtor on 12.05.2017 and raised invoices for Rs. 9,29,061.28, against which the Corporate Debtor made payments of Rs. 3,80,000.00. The last payment was made on 29.05.2017. A demand notice under Section 8 of IBC, 2016 was
…Action Construction Equipment Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against UTS Infratel Private Limited (Corporate Debtor). The Operational Creditor provided machinery on hire to the Corporate Debtor based on a work order issued on 2017-05-12. The Operational Creditor raised invoices for Rs. 9,29,061.28, against which the Corporate Debtor made payments totaling Rs. 3,80,000.00. The last payment was made on 2017-05-29. The Corporate Debtor defaulted on an outstanding debt of Rs. 5,49,061/- along with agreed interest, with the date of default being 2017-10-09. A demand notice under Section 8 of IBC, 2016, was submitted on 2018-06-27, but
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Corporate Debtor issued…
Corporate Debtor made…
Action Construction Equipment Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against UTS Infratel Private Limited, the Corporate Debtor. The Operational Creditor alleged that the Corporate Debtor defaulted in payment of an outstanding debt of Rs. 5,49,061/- along with agreed interest, with the date of default being 09.10.2017. The Operational Creditor provided machinery on hire based on a work order issued by the Corporate Debtor on 12.05.2017 and raised invoices for Rs. 9,29,061.28, against which the Corporate Debtor made payments of Rs. 3,80,000.00. The last payment was made on 29.05.2017. A demand notice under Section 8 of IBC, 2016 was
…Action Construction Equipment Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against UTS Infratel Private Limited (Corporate Debtor). The Operational Creditor provided machinery on hire to the Corporate Debtor based on a work order issued on 2017-05-12. The Operational Creditor raised invoices for Rs. 9,29,061.28, against which the Corporate Debtor made payments totaling Rs. 3,80,000.00. The last payment was made on 2017-05-29. The Corporate Debtor defaulted on an outstanding debt of Rs. 5,49,061/- along with agreed interest, with the date of default being 2017-10-09. A demand notice under Section 8 of IBC, 2016, was submitted on 2018-06-27, but
…Corporate Debtor issued…
Corporate Debtor made…