Nuvoco Vistas Corporation Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Adarsh Super Construction Private Limited, the corporate debtor, for an outstanding debt of Rs. 19,69,616/- along with interest. The operational creditor claimed to have supplied Ready Mix Concrete (RMX) to the corporate debtor based on purchase orders from September 2017 to March 2018. The corporate debtor allegedly defaulted on payments, and cheques issued in partial discharge of the liability were returned unpaid due to insufficient funds. The operational creditor issued a demand notice under Section 8 of the IBC, but the corporate debtor failed to make the
…Nuvoco Vistas Corporation Limited (Operational Creditor) claimed that Adarsh Super Construction Private Limited (Corporate Debtor) owed them Rs. 19,69,616/- plus interest for Ready Mix Concrete (RMX) supplied between September 2017 and March 2018. The supplies were based on purchase orders. The Corporate Debtor issued two cheques in partial discharge of the debt: cheque no. 327734 dated 31.05.2018 for Rs. 2,07,024/- and cheque no. 327734 dated 29.09.2018 for Rs. 5,00,000/-, but both were returned unpaid due to 'Funds Insufficient'. The Operational Creditor issued a notice under Section 138 of the Negotiable Instruments Act, 1881, on 31st July 2018 and 9th October 2018, but received no payment. A demand letter under Section 8 of the IBC was issued on 26th December 2018.
…Sign in to view the parties.
Nuvoco Vistas Corporation Limited supplied…
Adarsh Super Construction Private Limited…
Nuvoco Vistas Corporation Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Adarsh Super Construction Private Limited, the corporate debtor, for an outstanding debt of Rs. 19,69,616/- along with interest. The operational creditor claimed to have supplied Ready Mix Concrete (RMX) to the corporate debtor based on purchase orders from September 2017 to March 2018. The corporate debtor allegedly defaulted on payments, and cheques issued in partial discharge of the liability were returned unpaid due to insufficient funds. The operational creditor issued a demand notice under Section 8 of the IBC, but the corporate debtor failed to make the
…Nuvoco Vistas Corporation Limited (Operational Creditor) claimed that Adarsh Super Construction Private Limited (Corporate Debtor) owed them Rs. 19,69,616/- plus interest for Ready Mix Concrete (RMX) supplied between September 2017 and March 2018. The supplies were based on purchase orders. The Corporate Debtor issued two cheques in partial discharge of the debt: cheque no. 327734 dated 31.05.2018 for Rs. 2,07,024/- and cheque no. 327734 dated 29.09.2018 for Rs. 5,00,000/-, but both were returned unpaid due to 'Funds Insufficient'. The Operational Creditor issued a notice under Section 138 of the Negotiable Instruments Act, 1881, on 31st July 2018 and 9th October 2018, but received no payment. A demand letter under Section 8 of the IBC was issued on 26th December 2018.
…Nuvoco Vistas Corporation Limited supplied…
Adarsh Super Construction Private Limited…