The case involves an application filed by the Operational Creditor, M/s MT and T Rental Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, M/s Vasava Engineering Pvt. Ltd., for unpaid dues related to the hiring of equipment. The Operational Creditor provided specialized access equipment to the Corporate Debtor, who failed to make full payments as per the agreed terms. The Operational Creditor issued a notice under Section 8 of the IBC, but the Corporate Debtor did not respond. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
M/s MT and T Rental Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s Vasava Engineering Pvt. Ltd. (Corporate Debtor) for unpaid dues. The Operational Creditor is in the business of providing working solutions to industries with specialized access equipment. The Corporate Debtor approached the Operational Creditor for hiring Rotating Telehandler model MAGNI RTH with attachments. The Operational Creditor issued a quotation dated 03.12.2016, stipulating 100% advance payment with the Work Order. The Corporate Debtor issued a service order dated 12.12.2016. The Operational Creditor supplied the machinery. Invoices were issued and accepted by the Corporate Debtor without protest. The total billed
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Operational Creditor…
Corporate Debtor issued…
The case involves an application filed by the Operational Creditor, M/s MT and T Rental Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, M/s Vasava Engineering Pvt. Ltd., for unpaid dues related to the hiring of equipment. The Operational Creditor provided specialized access equipment to the Corporate Debtor, who failed to make full payments as per the agreed terms. The Operational Creditor issued a notice under Section 8 of the IBC, but the Corporate Debtor did not respond. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
M/s MT and T Rental Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s Vasava Engineering Pvt. Ltd. (Corporate Debtor) for unpaid dues. The Operational Creditor is in the business of providing working solutions to industries with specialized access equipment. The Corporate Debtor approached the Operational Creditor for hiring Rotating Telehandler model MAGNI RTH with attachments. The Operational Creditor issued a quotation dated 03.12.2016, stipulating 100% advance payment with the Work Order. The Corporate Debtor issued a service order dated 12.12.2016. The Operational Creditor supplied the machinery. Invoices were issued and accepted by the Corporate Debtor without protest. The total billed
…Operational Creditor…
Corporate Debtor issued…