Greta Steels Private Limited, represented by its Director, Mr. Rajesh Kumar, filed an application under Section 9 of the IBC against K. I. (International) Limited.

The application was filed based on a default in payment related to a High Seas Sales Agreement dated 08.02.2019 for the supply of imported steam coal.

The Operational Creditor claimed an outstanding amount of Rs. 19,14,54,142/- as of the date of the application.

K. I. (International) Limited argued that the debt was not an operational debt, there was a pre-existing dispute, and the application was barred by limitation.

The Operational Creditor relied on balance confirmation letters issued by the Corporate Debtor on multiple occasions.

Greta Steels Private Limited, represented by its Director, Mr. Rajesh Kumar, filed an application under Section 9 of the IBC against K. I. (International) Limited.

The application was filed based on a default in payment related to a High Seas Sales Agreement dated 08.02.2019 for the supply of imported steam coal.

The Operational Creditor claimed an outstanding amount of Rs. 19,14,54,142/- as of the date of the application.

K. I. (International) Limited argued that the debt was not an operational debt, there was a pre-existing dispute, and the application was barred by limitation.

The Operational Creditor relied on balance confirmation letters issued by the Corporate Debtor on multiple occasions.