M M Iron & Steels, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ASPG Infrastructure Private Limited, the Corporate Debtor, due to an alleged default in payment of INR 3,16,57,141. The Operational Creditor claimed to have supplied goods to the Corporate Debtor based on invoices, and despite reminders and assurances, the Corporate Debtor failed to clear the outstanding balance. The Corporate Debtor contested the application, claiming that the goods were not sent, the invoices were fabricated, and the amount claimed was contrary to previous communications. The Corporate Debtor also argued that the outstanding amount was below the statutory
…M M Iron & Steels, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ASPG Infrastructure Private Limited, the corporate debtor. The operational creditor claimed that it had supplied goods to the corporate debtor based on invoices, and the corporate debtor had defaulted in payment of the outstanding amount of Rs. 3,16,57,141. The corporate debtor denied receiving the goods and claimed that the invoices were fabricated. The corporate debtor also argued that the amount claimed was contrary to the amounts claimed by the petitioner in its own email dated 24.08.2020. The corporate debtor admitted that there was an outstanding balance of Rs.
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Operational Creditor issued a statutory demand…
Corporate Debtor sent a…
M M Iron & Steels, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ASPG Infrastructure Private Limited, the Corporate Debtor, due to an alleged default in payment of INR 3,16,57,141. The Operational Creditor claimed to have supplied goods to the Corporate Debtor based on invoices, and despite reminders and assurances, the Corporate Debtor failed to clear the outstanding balance. The Corporate Debtor contested the application, claiming that the goods were not sent, the invoices were fabricated, and the amount claimed was contrary to previous communications. The Corporate Debtor also argued that the outstanding amount was below the statutory
…M M Iron & Steels, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ASPG Infrastructure Private Limited, the corporate debtor. The operational creditor claimed that it had supplied goods to the corporate debtor based on invoices, and the corporate debtor had defaulted in payment of the outstanding amount of Rs. 3,16,57,141. The corporate debtor denied receiving the goods and claimed that the invoices were fabricated. The corporate debtor also argued that the amount claimed was contrary to the amounts claimed by the petitioner in its own email dated 24.08.2020. The corporate debtor admitted that there was an outstanding balance of Rs.
…Operational Creditor issued a statutory demand…
Corporate Debtor sent a…