The case involves a Company Petition filed by T.R. Steel Private Limited (the Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against VB Power Private Limited (the Corporate Debtor). The Petitioner alleges that the Corporate Debtor defaulted in making payments amounting to Rs. 14,27,707/-. The Petitioner had supplied CR Coils to the Corporate Debtor between January 15, 2015, and May 12, 2015, with the last payment received on March 28, 2016, leaving a balance due.
T.R. Steel Private Limited (the Petitioner) supplied CR Coils to VB Power Private Limited (the Corporate Debtor) between January 15, 2015, and May 12, 2015. The last payment received by the Petitioner was on March 28, 2016. A balance of Rs. 7,21,872/- remained unpaid. The Petitioner issued a Demand Notice on February 1, 2018, demanding the principal sum and interest, totaling Rs. 14,27,707/-, calculated at 36% per annum as per the invoices. The Corporate Debtor did not respond to the Demand Notice. The Petitioner served the petition on the Corporate Debtor on August 17, 2018, but the Corporate Debtor failed to appear for the hearing. The Petitioner provided a ledger account statement and a bank certificate to substantiate the claim.
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T.R. Steel Private…
T.R. Steel Private…
The case involves a Company Petition filed by T.R. Steel Private Limited (the Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against VB Power Private Limited (the Corporate Debtor). The Petitioner alleges that the Corporate Debtor defaulted in making payments amounting to Rs. 14,27,707/-. The Petitioner had supplied CR Coils to the Corporate Debtor between January 15, 2015, and May 12, 2015, with the last payment received on March 28, 2016, leaving a balance due.
T.R. Steel Private Limited (the Petitioner) supplied CR Coils to VB Power Private Limited (the Corporate Debtor) between January 15, 2015, and May 12, 2015. The last payment received by the Petitioner was on March 28, 2016. A balance of Rs. 7,21,872/- remained unpaid. The Petitioner issued a Demand Notice on February 1, 2018, demanding the principal sum and interest, totaling Rs. 14,27,707/-, calculated at 36% per annum as per the invoices. The Corporate Debtor did not respond to the Demand Notice. The Petitioner served the petition on the Corporate Debtor on August 17, 2018, but the Corporate Debtor failed to appear for the hearing. The Petitioner provided a ledger account statement and a bank certificate to substantiate the claim.
T.R. Steel Private…
T.R. Steel Private…