The case involves a company petition filed by Classic Glass Glazing, the Operational Creditor, against Alumayer India Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claims an unresolved operational debt of Rs. 35,25,068/-. The Corporate Debtor admitted to owing Rs. 24,78,045/- as of 12.12.2014.
Classic Glass Glazing (Operational Creditor) filed a petition against Alumayer India Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 35,25,068/-. The Operational Creditor and Corporate Debtor entered into a contract around June 2012, where the Operational Creditor was to supply goods and render services. Work orders were issued by the Corporate Debtor on 13.06.2012 and 25.11.2013 for different projects. The Corporate Debtor certified invoices for Rs. 64,44,438/-, but made irregular payments totaling Rs. 42,47,302/-, leaving a balance of Rs. 21,21,642/-. The last payment was made on 21.02.2015 for Rs. 2,56,583/-. A Demand Notice was issued on 19.09.2019, which the
…Sign in to view the parties.
The Applicant and the Respondent entered into…
The Corporate Debtor…
The case involves a company petition filed by Classic Glass Glazing, the Operational Creditor, against Alumayer India Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claims an unresolved operational debt of Rs. 35,25,068/-. The Corporate Debtor admitted to owing Rs. 24,78,045/- as of 12.12.2014.
Classic Glass Glazing (Operational Creditor) filed a petition against Alumayer India Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 35,25,068/-. The Operational Creditor and Corporate Debtor entered into a contract around June 2012, where the Operational Creditor was to supply goods and render services. Work orders were issued by the Corporate Debtor on 13.06.2012 and 25.11.2013 for different projects. The Corporate Debtor certified invoices for Rs. 64,44,438/-, but made irregular payments totaling Rs. 42,47,302/-, leaving a balance of Rs. 21,21,642/-. The last payment was made on 21.02.2015 for Rs. 2,56,583/-. A Demand Notice was issued on 19.09.2019, which the
…The Applicant and the Respondent entered into…
The Corporate Debtor…