The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Ritu Kejriwal, proprietrix of Shree Krishna Trading Company (Operational Creditor), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aanchal Cement Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for cement clinker supplied from February 8, 2020, to February 24, 2020. The Corporate Debtor acknowledged the debt and made a partial payment but failed to clear the outstanding dues. The Operational Creditor issued a demand notice on April 15, 2021, which the Corporate Debtor disputed, citing inferior quality of goods and pre-existing disputes.
Ritu Kejriwal, operating as Shree Krishna Trading Company, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Aanchal Cement Limited. Shree Krishna Trading Company supplied cement clinker to Aanchal Cement Limited based on purchase orders. The agreement stipulated payment within 15 days, with an 18% interest levy on defaults. Invoices were raised between February 8, 2020, and February 24, 2020, and acknowledged by Aanchal Cement Limited. The principal amount outstanding was ₹2,72,72,184.91. Aanchal Cement Limited defaulted on payments, with the default date stated as February 24, 2020. Shree Krishna Trading Company sent a letter on August 14, 2020, demanding payment. Aanchal Cement Limited acknowledged the debt on
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Operational C…
Operational Creditor stopped raising invoices…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Ritu Kejriwal, proprietrix of Shree Krishna Trading Company (Operational Creditor), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aanchal Cement Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for cement clinker supplied from February 8, 2020, to February 24, 2020. The Corporate Debtor acknowledged the debt and made a partial payment but failed to clear the outstanding dues. The Operational Creditor issued a demand notice on April 15, 2021, which the Corporate Debtor disputed, citing inferior quality of goods and pre-existing disputes.
Ritu Kejriwal, operating as Shree Krishna Trading Company, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Aanchal Cement Limited. Shree Krishna Trading Company supplied cement clinker to Aanchal Cement Limited based on purchase orders. The agreement stipulated payment within 15 days, with an 18% interest levy on defaults. Invoices were raised between February 8, 2020, and February 24, 2020, and acknowledged by Aanchal Cement Limited. The principal amount outstanding was ₹2,72,72,184.91. Aanchal Cement Limited defaulted on payments, with the default date stated as February 24, 2020. Shree Krishna Trading Company sent a letter on August 14, 2020, demanding payment. Aanchal Cement Limited acknowledged the debt on
…Operational C…
Operational Creditor stopped raising invoices…