The case involves an application filed by Darukhana Steel Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ardent Maschinfabrik Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied as per purchase orders. The debt included a principal amount of Rs. 2,48,45,678/- and an interest component of Rs. 69,90,157/-. The Corporate Debtor acknowledged the debt but failed to make payments despite repeated reminders.
Darukhana Steel Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ardent Maschinfabrik Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 3,18,35,835/-, including a principal amount of Rs. 2,48,45,678/- and interest of Rs. 69,90,157/-. The debt arose from the supply of iron and steel products by the Operational Creditor to the Corporate Debtor, as per purchase orders. The invoices issued by the Operational Creditor stipulated an interest of 24% p.a. on unpaid invoices after 60 days. Despite providing quality goods, the Corporate Debtor failed to honor the payments. The Operational
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Operational Creditor…
Operational Creditor…
The case involves an application filed by Darukhana Steel Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ardent Maschinfabrik Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied as per purchase orders. The debt included a principal amount of Rs. 2,48,45,678/- and an interest component of Rs. 69,90,157/-. The Corporate Debtor acknowledged the debt but failed to make payments despite repeated reminders.
Darukhana Steel Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ardent Maschinfabrik Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 3,18,35,835/-, including a principal amount of Rs. 2,48,45,678/- and interest of Rs. 69,90,157/-. The debt arose from the supply of iron and steel products by the Operational Creditor to the Corporate Debtor, as per purchase orders. The invoices issued by the Operational Creditor stipulated an interest of 24% p.a. on unpaid invoices after 60 days. Despite providing quality goods, the Corporate Debtor failed to honor the payments. The Operational
…Operational Creditor…
Operational Creditor…