The case involves an application filed by Ispat Traders (India) Private Limited, the Operational Creditor, against Anupam Port Cranes Corporation Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's alleged default in payment of an operational debt amounting to Rs. 1,15,05,718/-. The first date of default was stated as 21.06.2023, and the last as 11.07.2023. The Operational Creditor sought the admission of the application, initiation of CIRP, appointment of an Interim Resolution Professional (IRP), and declaration of a moratorium.
Ispat Traders (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Anupam Port Cranes Corporation Limited (Corporate Debtor) for defaulting on a payment of Rs. 1,15,05,718/-. The first default date was 21.06.2023, and the last was 11.07.2023. The Corporate Debtor placed a purchase order on 16.06.2023 for MS Plates, Bars, and other specific equipment. The Operational Creditor supplied goods/materials to the Corporate Debtor via invoices from 20.06.2023 to 10.07.2023, totaling Rs. 1,23,13,230/-. The Corporate Debtor rejected materials worth Rs. 8,07,512/- but accepted and consumed materials worth Rs. 1,15,05,718/-. Payment was due within one day of the invoice date, but the Corporate
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Operational Creditor issued invoices to the…
The case involves an application filed by Ispat Traders (India) Private Limited, the Operational Creditor, against Anupam Port Cranes Corporation Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's alleged default in payment of an operational debt amounting to Rs. 1,15,05,718/-. The first date of default was stated as 21.06.2023, and the last as 11.07.2023. The Operational Creditor sought the admission of the application, initiation of CIRP, appointment of an Interim Resolution Professional (IRP), and declaration of a moratorium.
Ispat Traders (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Anupam Port Cranes Corporation Limited (Corporate Debtor) for defaulting on a payment of Rs. 1,15,05,718/-. The first default date was 21.06.2023, and the last was 11.07.2023. The Corporate Debtor placed a purchase order on 16.06.2023 for MS Plates, Bars, and other specific equipment. The Operational Creditor supplied goods/materials to the Corporate Debtor via invoices from 20.06.2023 to 10.07.2023, totaling Rs. 1,23,13,230/-. The Corporate Debtor rejected materials worth Rs. 8,07,512/- but accepted and consumed materials worth Rs. 1,15,05,718/-. Payment was due within one day of the invoice date, but the Corporate
…Corporate Debtor placed…
Operational Creditor issued invoices to the…