Armaco Infralinks Pvt. Ltd. filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against B. S. Ispat Pvt. Ltd. The Operational Creditor claimed a default of Rs. 35,58,16,538.06/- with the date of default stated as 15.08.2024. The Corporate Debtor contested the application, citing a contractual dispute, unstamped delivery order, non-service of application copy, and a claim disputed in the record of NeSL. The Operational Creditor had advanced monies to the Corporate Debtor for the supply of coal, but the Corporate Debtor allegedly stopped the supply of coal in June 2024, despite outstanding monies.
Armaco Infralinks Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against B. S. Ispat Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a default of Rs. 35,58,16,538.06/-, with the date of default being 15.08.2024. The Operational Creditor is a private limited company incorporated in 2020, involved in mining and agglomeration of hard coal. The Corporate Debtor is a private limited company incorporated on 01.12.1999, involved in coal mining and steel manufacturing, supplying coal to the Operational Creditor since May 2021. The Operational Creditor advanced Rs. 17,53,00,000/- to the Corporate Debtor between April 2021 and 14.09.2022 for coal supply, but the Corporate Debtor only
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Armaco Infralinks Pvt. Ltd. filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against B. S. Ispat Pvt. Ltd. The Operational Creditor claimed a default of Rs. 35,58,16,538.06/- with the date of default stated as 15.08.2024. The Corporate Debtor contested the application, citing a contractual dispute, unstamped delivery order, non-service of application copy, and a claim disputed in the record of NeSL. The Operational Creditor had advanced monies to the Corporate Debtor for the supply of coal, but the Corporate Debtor allegedly stopped the supply of coal in June 2024, despite outstanding monies.
Armaco Infralinks Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against B. S. Ispat Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed a default of Rs. 35,58,16,538.06/-, with the date of default being 15.08.2024. The Operational Creditor is a private limited company incorporated in 2020, involved in mining and agglomeration of hard coal. The Corporate Debtor is a private limited company incorporated on 01.12.1999, involved in coal mining and steel manufacturing, supplying coal to the Operational Creditor since May 2021. The Operational Creditor advanced Rs. 17,53,00,000/- to the Corporate Debtor between April 2021 and 14.09.2022 for coal supply, but the Corporate Debtor only
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