The case involves an application filed by Mr. Bhupindersingh Banga, director of M/s. Banga Iron & Steel Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vicor Stainless Private Limited, the corporate debtor, for operational debt. The operational creditor claimed that the corporate debtor approached them in 2019 and placed purchase orders for the supply of rolling mill machinery and equipment. The operational creditor supplied the goods and raised invoices amounting to Rs. 18,52,600/-. The corporate debtor failed to make the payment despite repeated reminders. The operational creditor issued a demand notice under Section 8 of the I&B Code on December 14, 2019.
M/s. Banga Iron & Steel Private Limited (the operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vicor Stainless Private Limited (the corporate debtor). The operational creditor claimed that the corporate debtor approached them in 2019 and placed purchase orders for the supply of rolling mill machinery and equipment. The operational creditor supplied the goods and raised invoices amounting to Rs. 18,52,600/-. The corporate debtor failed to make the payment despite repeated reminders. The operational creditor issued a demand notice under Section 8 of the I&B Code on December 14, 2019. The corporate debtor admitted the debt in a letter dated December 18, 2019, and in a 'confirmation of accounts'
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The corporate debtor approached the…
The operational creditor issued a demand…
The case involves an application filed by Mr. Bhupindersingh Banga, director of M/s. Banga Iron & Steel Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vicor Stainless Private Limited, the corporate debtor, for operational debt. The operational creditor claimed that the corporate debtor approached them in 2019 and placed purchase orders for the supply of rolling mill machinery and equipment. The operational creditor supplied the goods and raised invoices amounting to Rs. 18,52,600/-. The corporate debtor failed to make the payment despite repeated reminders. The operational creditor issued a demand notice under Section 8 of the I&B Code on December 14, 2019.
M/s. Banga Iron & Steel Private Limited (the operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vicor Stainless Private Limited (the corporate debtor). The operational creditor claimed that the corporate debtor approached them in 2019 and placed purchase orders for the supply of rolling mill machinery and equipment. The operational creditor supplied the goods and raised invoices amounting to Rs. 18,52,600/-. The corporate debtor failed to make the payment despite repeated reminders. The operational creditor issued a demand notice under Section 8 of the I&B Code on December 14, 2019. The corporate debtor admitted the debt in a letter dated December 18, 2019, and in a 'confirmation of accounts'
…The corporate debtor approached the…
The operational creditor issued a demand…