The case involves a petition filed by Harshad V. Vora, an Operational Creditor, against Atharva Metal Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor alleged that the Corporate Debtor defaulted in making payment for invoices totaling Rs. 35,29,738/- excluding interest @18 per annum from 01.07.2019, for goods supplied (H.R. Coils & C.R. Coils).
Harshad V. Vora, operating as Utkarsh Steel Corporation, is the Operational Creditor. Atharva Metal Pvt. Ltd. is the Corporate Debtor. The Operational Creditor supplied H.R. Coils & C.R. Coils to the Corporate Debtor. Invoices totaling Rs. 38,34,220/- were raised, out of which Rs. 3,04,482/- was paid, leaving a balance of Rs. 35,29,738/-. As per the payment terms, the Corporate Debtor was required to make payments within 45 days of the invoice date. The Corporate Debtor failed to make the outstanding payment. The Operational Creditor sent a Demand Notice under Section 8 of the Code dated 19.07.2019. The Operational Creditor annexed copies of invoices, ledger accounts, email communication, demand notice, auditor's confirmation of accounts, and bank statements to the
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Operational Creditor issued a Demand Notice…
Corporate Debtor was set ex-parte by the Bench…
The case involves a petition filed by Harshad V. Vora, an Operational Creditor, against Atharva Metal Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor alleged that the Corporate Debtor defaulted in making payment for invoices totaling Rs. 35,29,738/- excluding interest @18 per annum from 01.07.2019, for goods supplied (H.R. Coils & C.R. Coils).
Harshad V. Vora, operating as Utkarsh Steel Corporation, is the Operational Creditor. Atharva Metal Pvt. Ltd. is the Corporate Debtor. The Operational Creditor supplied H.R. Coils & C.R. Coils to the Corporate Debtor. Invoices totaling Rs. 38,34,220/- were raised, out of which Rs. 3,04,482/- was paid, leaving a balance of Rs. 35,29,738/-. As per the payment terms, the Corporate Debtor was required to make payments within 45 days of the invoice date. The Corporate Debtor failed to make the outstanding payment. The Operational Creditor sent a Demand Notice under Section 8 of the Code dated 19.07.2019. The Operational Creditor annexed copies of invoices, ledger accounts, email communication, demand notice, auditor's confirmation of accounts, and bank statements to the
…Operational Creditor issued a Demand Notice…
Corporate Debtor was set ex-parte by the Bench…