The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Marine Cranes against Vishwasamudra Engineering Private Limited, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in payment of an operational debt. The petitioner, engaged in the business of hiring cranes, claimed that the respondent defaulted on payments for services rendered. The NCLT Amaravati Bench admitted the petition ex parte, commencing the CIRP.
M/s Marine Cranes, a partnership firm based in Chennai, is in the business of hiring cranes. Vishwasamudra Engineering Private Limited, located in Andhra Pradesh, availed crane rental services from the petitioner. Eleven invoices were raised by the petitioner between March 6, 2019, and August 7, 2019, totaling Rs. 33,21,573. The principal debt due was Rs. 30,88,694, with additional interest and legal charges of Rs. 4,37,294, aggregating to Rs. 35,25,988. The respondent failed to pay the amount. A demand notice was issued on November 21, 2019, under Section 8 of the IBC and delivered on December 3, 2019, but received no response. The petitioner filed the petition on January 22, 2020. The respondent was served notice but did not appear, resulting in an ex parte order.
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The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Marine Cranes against Vishwasamudra Engineering Private Limited, seeking the initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in payment of an operational debt. The petitioner, engaged in the business of hiring cranes, claimed that the respondent defaulted on payments for services rendered. The NCLT Amaravati Bench admitted the petition ex parte, commencing the CIRP.
M/s Marine Cranes, a partnership firm based in Chennai, is in the business of hiring cranes. Vishwasamudra Engineering Private Limited, located in Andhra Pradesh, availed crane rental services from the petitioner. Eleven invoices were raised by the petitioner between March 6, 2019, and August 7, 2019, totaling Rs. 33,21,573. The principal debt due was Rs. 30,88,694, with additional interest and legal charges of Rs. 4,37,294, aggregating to Rs. 35,25,988. The respondent failed to pay the amount. A demand notice was issued on November 21, 2019, under Section 8 of the IBC and delivered on December 3, 2019, but received no response. The petitioner filed the petition on January 22, 2020. The respondent was served notice but did not appear, resulting in an ex parte order.
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