The case pertains to an application filed by M/s S.N. Global Minerals LLP (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Aksa Paper Mills Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt amounting to Rs. 2,93,23,806/-. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for imported coal supplied based on four purchase orders. The Corporate Debtor failed to file any reply despite sufficient opportunities.
M/s S.N. Global Minerals LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s Aksa Paper Mills Private Limited (Corporate Debtor) for defaulting on an operational debt of Rs. 2,93,23,806/-. The Operational Creditor supplied imported coal to the Corporate Debtor based on four purchase orders placed between May and October 2023. Invoices were raised from June to October 2023, totaling Rs. 2,69,38,653/-, with a credit period of 90 days. The invoices included a provision for late payment interest at 2.00% per month. The Corporate Debtor failed to pay the outstanding amount. A demand notice was issued on February 29, 2024, and served to the Corporate Debtor, but no payment or reply was received. The
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First purchase order…
Second purchase order…
The case pertains to an application filed by M/s S.N. Global Minerals LLP (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Aksa Paper Mills Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt amounting to Rs. 2,93,23,806/-. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for imported coal supplied based on four purchase orders. The Corporate Debtor failed to file any reply despite sufficient opportunities.
M/s S.N. Global Minerals LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s Aksa Paper Mills Private Limited (Corporate Debtor) for defaulting on an operational debt of Rs. 2,93,23,806/-. The Operational Creditor supplied imported coal to the Corporate Debtor based on four purchase orders placed between May and October 2023. Invoices were raised from June to October 2023, totaling Rs. 2,69,38,653/-, with a credit period of 90 days. The invoices included a provision for late payment interest at 2.00% per month. The Corporate Debtor failed to pay the outstanding amount. A demand notice was issued on February 29, 2024, and served to the Corporate Debtor, but no payment or reply was received. The
…First purchase order…
Second purchase order…