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), against Aanchal Cement Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). 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 with 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 against Aanchal Cement Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. Shree Krishna Trading Company, the Operational Creditor, supplied cement clinker to Aanchal Cement Limited, the Corporate Debtor. Invoices were raised between February 8, 2020, and February 24, 2020, with a payment term of 15 days and an 18% interest on default. The Corporate Debtor defaulted on payments, leading to an outstanding principal of ₹2,72,72,184.91. A part payment of ₹2,50,000 was made on August 24, 2020. The Operational Creditor issued a demand notice on April 15, 2021, claiming a total default of ₹3,26,81,204.91, including interest. The Corporate Debtor disputed the
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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), against Aanchal Cement Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). 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 with 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 against Aanchal Cement Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. Shree Krishna Trading Company, the Operational Creditor, supplied cement clinker to Aanchal Cement Limited, the Corporate Debtor. Invoices were raised between February 8, 2020, and February 24, 2020, with a payment term of 15 days and an 18% interest on default. The Corporate Debtor defaulted on payments, leading to an outstanding principal of ₹2,72,72,184.91. A part payment of ₹2,50,000 was made on August 24, 2020. The Operational Creditor issued a demand notice on April 15, 2021, claiming a total default of ₹3,26,81,204.91, including interest. The Corporate Debtor disputed the
…Operational Creditor started raising…
Operational Creditor stopped raising…