The case involves an application filed by M/s. Saran Equipments and Engineers Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. ASPG Infrastructures Pvt. Ltd. (Corporate Debtor) for an alleged default in payment of Rs. 1,79,63,109, including principal and interest. The Operational Creditor claims the debt arises from the supply of iron and steel products to the Corporate Debtor. The Corporate Debtor contested the application, alleging that the Operational Creditor is claiming illegal money for goods never received and that there is a pre-existing dispute related to wrong/false invoices.
M/s. Saran Equipments and Engineers Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. ASPG Infrastructures Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a debt of Rs. 1,79,63,109, including principal (Rs. 1,14,77,632) and interest (Rs. 64,85,477), arising from the supply of iron and steel products. A demand notice was issued on 04.10.2019. The Corporate Debtor contested the application, alleging that the Operational Creditor was claiming illegal money for goods never received and that there was a pre-existing dispute related to wrong/false invoices. The Corporate Debtor claimed that two employees, Mr. Sandeep Mittal
…Sign in to view the parties.
The Operational…
M/s. Saran Equipments and Engineers Pvt. Ltd.…
The case involves an application filed by M/s. Saran Equipments and Engineers Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. ASPG Infrastructures Pvt. Ltd. (Corporate Debtor) for an alleged default in payment of Rs. 1,79,63,109, including principal and interest. The Operational Creditor claims the debt arises from the supply of iron and steel products to the Corporate Debtor. The Corporate Debtor contested the application, alleging that the Operational Creditor is claiming illegal money for goods never received and that there is a pre-existing dispute related to wrong/false invoices.
M/s. Saran Equipments and Engineers Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. ASPG Infrastructures Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a debt of Rs. 1,79,63,109, including principal (Rs. 1,14,77,632) and interest (Rs. 64,85,477), arising from the supply of iron and steel products. A demand notice was issued on 04.10.2019. The Corporate Debtor contested the application, alleging that the Operational Creditor was claiming illegal money for goods never received and that there was a pre-existing dispute related to wrong/false invoices. The Corporate Debtor claimed that two employees, Mr. Sandeep Mittal
…The Operational…
M/s. Saran Equipments and Engineers Pvt. Ltd.…