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 claims 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 pay the outstanding amount. 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, supplied cement clinker to Aanchal Cement Limited. The Corporate Debtor was supposed to make payments within 15 days of receiving the goods, with an 18% interest levied on defaults. Invoices were raised between February 8, 2020, and February 24, 2020, with an outstanding principal amount of ₹2,72,72,184.91. The Corporate Debtor defaulted on payments, with the default date stated as February 24, 2020. The Operational Creditor sent a letter on August 14, 2020, demanding payment. The Corporate Debtor acknowledged the debt on August 24, 2020, and made a part payment of ₹2,50,000. The Operational Creditor issued a demand notice on April 15, 2021, under Section 8 of the IBC, after the Corporate Debtor defaulted. The
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The Operational Creditor ended raising…
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 claims 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 pay the outstanding amount. 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, supplied cement clinker to Aanchal Cement Limited. The Corporate Debtor was supposed to make payments within 15 days of receiving the goods, with an 18% interest levied on defaults. Invoices were raised between February 8, 2020, and February 24, 2020, with an outstanding principal amount of ₹2,72,72,184.91. The Corporate Debtor defaulted on payments, with the default date stated as February 24, 2020. The Operational Creditor sent a letter on August 14, 2020, demanding payment. The Corporate Debtor acknowledged the debt on August 24, 2020, and made a part payment of ₹2,50,000. The Operational Creditor issued a demand notice on April 15, 2021, under Section 8 of the IBC, after the Corporate Debtor defaulted. The
…The Operational…
The Operational Creditor ended raising…