The Operational Creditor, Sun Control Systems, through its partner Ramesh Gupta, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Aarcity Infrastructure Private Limited, for an alleged default of Rs. 56,38,850/-. The Operational Creditor claimed the amount was due for goods provided, specifically UPVC doors and windows for the Corporate Debtor's project named 'Regency Park'. The Operational Creditor raised 21 invoices from 22.09.2015 to 28.12.2018. After raising invoices, the Operational Creditor sent emails requesting payment, but the Corporate Debtor failed to pay. The Operational Creditor then issued a statutory Demand Notice under Section 8
…Sun Control Systems, an operational creditor and a micro category manufacturing enterprise, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Aarcity Infrastructure Private Limited, a corporate debtor, for a default of Rs. 56,38,850/-. The debt arose from the supply and fixing of UPVC doors and windows for the corporate debtor's project 'Regency Park'. Three purchase orders were issued in 2015, with invoices raised from 22.09.2015 to 28.12.2018. The operational creditor issued a statutory demand notice on 03.06.2019, which was delivered on 10.06.2019. The corporate debtor replied on 10.06.2019, raising a dispute about the goods delivered. The corporate debtor argued that the operational creditor was an unregistered partnership
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The Operational Creditor, Sun Control Systems, through its partner Ramesh Gupta, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Aarcity Infrastructure Private Limited, for an alleged default of Rs. 56,38,850/-. The Operational Creditor claimed the amount was due for goods provided, specifically UPVC doors and windows for the Corporate Debtor's project named 'Regency Park'. The Operational Creditor raised 21 invoices from 22.09.2015 to 28.12.2018. After raising invoices, the Operational Creditor sent emails requesting payment, but the Corporate Debtor failed to pay. The Operational Creditor then issued a statutory Demand Notice under Section 8
…Sun Control Systems, an operational creditor and a micro category manufacturing enterprise, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Aarcity Infrastructure Private Limited, a corporate debtor, for a default of Rs. 56,38,850/-. The debt arose from the supply and fixing of UPVC doors and windows for the corporate debtor's project 'Regency Park'. Three purchase orders were issued in 2015, with invoices raised from 22.09.2015 to 28.12.2018. The operational creditor issued a statutory demand notice on 03.06.2019, which was delivered on 10.06.2019. The corporate debtor replied on 10.06.2019, raising a dispute about the goods delivered. The corporate debtor argued that the operational creditor was an unregistered partnership
…The Corporate Debtor…
One of the three…