VA Realcon Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Avail Holding Limited, the Corporate Debtor. The claim arose from the sale of shares of Macor Packaging Limited by VA Realcon to Avail Holding for a consideration of Rs. 1,14,28,500/-. The Operational Creditor contended that the Corporate Debtor failed to make the payment despite repeated reminders and a demand notice.
VA Realcon Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Avail Holding Limited (Corporate Debtor). The claim is based on the sale of 1,16,620 shares of Macor Packaging Limited by the Operational Creditor to the Corporate Debtor for Rs. 1,14,28,500/-. The Operational Creditor issued a demand notice on 06.11.2020 under Section 8 of IBC 2016, which was served on 09.11.2020. The Operational Creditor claimed that the Corporate Debtor failed to make the payment despite repeated assurances. The Operational Creditor's primary business is dealing in immovable properties. The sales bill and contract note lacked the CIN number of the applicant
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Operational Creditor sold 1,16,620 shares of…
Operational Creditor served a reminder letter…
VA Realcon Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Avail Holding Limited, the Corporate Debtor. The claim arose from the sale of shares of Macor Packaging Limited by VA Realcon to Avail Holding for a consideration of Rs. 1,14,28,500/-. The Operational Creditor contended that the Corporate Debtor failed to make the payment despite repeated reminders and a demand notice.
VA Realcon Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Avail Holding Limited (Corporate Debtor). The claim is based on the sale of 1,16,620 shares of Macor Packaging Limited by the Operational Creditor to the Corporate Debtor for Rs. 1,14,28,500/-. The Operational Creditor issued a demand notice on 06.11.2020 under Section 8 of IBC 2016, which was served on 09.11.2020. The Operational Creditor claimed that the Corporate Debtor failed to make the payment despite repeated assurances. The Operational Creditor's primary business is dealing in immovable properties. The sales bill and contract note lacked the CIN number of the applicant
…Operational Creditor sold 1,16,620 shares of…
Operational Creditor served a reminder letter…