Dalmia Cement (Bharat) Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against AGRS Projects LLP. The operational creditor claimed that the corporate debtor defaulted in making payment of Rs.1,72,93,695/-, which included interest towards invoices raised against the cement supplied. The petition was filed due to the corporate debtor's failure to pay 82 invoices out of a total of 211 invoices raised for the supply of cement.
Dalmia Cement (Bharat) Limited, an operational creditor, supplied cement to AGRS Projects LLP, the corporate debtor. A total of 211 invoices were raised, but the corporate debtor failed to pay 82 invoices, resulting in outstanding dues of Rs.1,72,93,695/-, including interest. The operational creditor issued a demand notice, but the corporate debtor did not respond. An email dated 16.10.2019 from the corporate debtor admitted the debt and promised payment in installments, but this undertaking was not fulfilled. The corporate debtor failed to file a counter despite multiple adjournments, leading the tribunal to forfeit their right to do so. The operational creditor did not suggest any name as Insolvency Resolution Professional (IRP) and sought the Tribunal to appoint an
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Corporate Debtor undertakes to pay the debt in…
The Corporate Debtor…
Dalmia Cement (Bharat) Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against AGRS Projects LLP. The operational creditor claimed that the corporate debtor defaulted in making payment of Rs.1,72,93,695/-, which included interest towards invoices raised against the cement supplied. The petition was filed due to the corporate debtor's failure to pay 82 invoices out of a total of 211 invoices raised for the supply of cement.
Dalmia Cement (Bharat) Limited, an operational creditor, supplied cement to AGRS Projects LLP, the corporate debtor. A total of 211 invoices were raised, but the corporate debtor failed to pay 82 invoices, resulting in outstanding dues of Rs.1,72,93,695/-, including interest. The operational creditor issued a demand notice, but the corporate debtor did not respond. An email dated 16.10.2019 from the corporate debtor admitted the debt and promised payment in installments, but this undertaking was not fulfilled. The corporate debtor failed to file a counter despite multiple adjournments, leading the tribunal to forfeit their right to do so. The operational creditor did not suggest any name as Insolvency Resolution Professional (IRP) and sought the Tribunal to appoint an
…Corporate Debtor undertakes to pay the debt in…
The Corporate Debtor…