Shree Shyam Minerals filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Swastik Ispat Private Limited for an operational debt of Rs. 1,84,06,686.86.
Shree Shyam Minerals (Operational Creditor/Applicant) filed an application to initiate CIRP against Swastik Ispat Pvt. Ltd. (Corporate Debtor/Respondent).
The application was filed on 04.04.2024.
The operational debt claimed is Rs. 1,84,06,686.86.
The Respondent issued its first Purchase Order on 09.03.2023.
The Applicant started raising invoices for supply of coal from 14.11.2022.
The Applicant raised invoices aggregating to Rs. 3,70,43,577.86, out of which the Respondent made payments aggregating to Rs. 2,20,00,000.
A demand notice under Section 8(1) of the Code was issued on 29.01.2024 to the respondent.
The Respondent alleged that the Applicant concealed the fact that a modified Purchase Order was issued on 08.05.2023.
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Shree Shyam Minerals…
A demand notice under…
Shree Shyam Minerals filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Swastik Ispat Private Limited for an operational debt of Rs. 1,84,06,686.86.
Shree Shyam Minerals (Operational Creditor/Applicant) filed an application to initiate CIRP against Swastik Ispat Pvt. Ltd. (Corporate Debtor/Respondent).
The application was filed on 04.04.2024.
The operational debt claimed is Rs. 1,84,06,686.86.
The Respondent issued its first Purchase Order on 09.03.2023.
The Applicant started raising invoices for supply of coal from 14.11.2022.
The Applicant raised invoices aggregating to Rs. 3,70,43,577.86, out of which the Respondent made payments aggregating to Rs. 2,20,00,000.
A demand notice under Section 8(1) of the Code was issued on 29.01.2024 to the respondent.
The Respondent alleged that the Applicant concealed the fact that a modified Purchase Order was issued on 08.05.2023.
…Shree Shyam Minerals…
A demand notice under…