M/s Brahmi Steels, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Ambient Controls Private Limited, the corporate debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition claimed a default of Rs. 3,27,96,405/-. The respondent disputed the claim, asserting that the matter was barred by limitation and raising concerns about the quality of materials supplied. The petitioner contended that the debt was within the limitation period due to extensions granted by the Supreme Court and that the respondent had acknowledged the debt.
M/s Brahmi Steels, the operational creditor, filed a petition under Section 9 of the IBC against M/s Ambient Controls Private Limited, the corporate debtor, claiming a default of Rs. 3,27,96,405/-. The petitioner is a partnership firm registered under the MSME Act, engaged in trading branded steel. The respondent is a private limited company involved in the construction of industrial sheds. Business between the parties commenced in 2014, with the respondent purchasing materials from the petitioner. Thirteen invoices, issued between 08.04.2017 and 19.03.2018, became overdue. The petitioner issued a demand notice under Section 8 of the IBC on 23.07.2021, followed by a second notice on 19.08.2021. The respondent disputed the quality and quantity of materials supplied. The
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The present petition is filed on 18.11.2021…
The First notice was sent on 23.07.2021,…
M/s Brahmi Steels, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Ambient Controls Private Limited, the corporate debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition claimed a default of Rs. 3,27,96,405/-. The respondent disputed the claim, asserting that the matter was barred by limitation and raising concerns about the quality of materials supplied. The petitioner contended that the debt was within the limitation period due to extensions granted by the Supreme Court and that the respondent had acknowledged the debt.
M/s Brahmi Steels, the operational creditor, filed a petition under Section 9 of the IBC against M/s Ambient Controls Private Limited, the corporate debtor, claiming a default of Rs. 3,27,96,405/-. The petitioner is a partnership firm registered under the MSME Act, engaged in trading branded steel. The respondent is a private limited company involved in the construction of industrial sheds. Business between the parties commenced in 2014, with the respondent purchasing materials from the petitioner. Thirteen invoices, issued between 08.04.2017 and 19.03.2018, became overdue. The petitioner issued a demand notice under Section 8 of the IBC on 23.07.2021, followed by a second notice on 19.08.2021. The respondent disputed the quality and quantity of materials supplied. The
…The present petition is filed on 18.11.2021…
The First notice was sent on 23.07.2021,…