Rajinder Infrastructure Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bajwa Developers Limited, claiming to be an operational creditor. The operational creditor stated that they had been supplying building materials to the corporate debtor since 2015, and defaults occurred from 16.01.2016 to 21.03.2017, with a total outstanding amount of Rs. 3,72,28,158/-. A demand notice was issued on 28.04.2021, but the corporate debtor did not reply. The corporate debtor was proceeded ex-parte due to their failure to appear and defend the petition.
Rajinder Infrastructure Private Limited (Operational Creditor) supplied building materials to Bajwa Developers Limited (Corporate Debtor) since 2015. Issues arose with outstanding payments starting from 16.01.2016. The first default occurred against Bill No. 14 dated 16.01.2016 for Rs. 5,51,884/-, with only Rs. 60,118/- received. Subsequent outstanding amounts against various bills totaled Rs. 3,72,28,158/-. The default period spanned from 16.01.2016 to 21.03.2017, corresponding to the invoice issuance dates. A demand notice in Form 3 & 4 was issued on 28.04.2021 and delivered to the Corporate Debtor, but no reply was received. The Corporate Debtor did not appear to defend the petition and was proceeded against ex-parte. The last payment was received on 23.05.2018.
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Rajinder Infrastructure Private Limited…
First default occurred…
Rajinder Infrastructure Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bajwa Developers Limited, claiming to be an operational creditor. The operational creditor stated that they had been supplying building materials to the corporate debtor since 2015, and defaults occurred from 16.01.2016 to 21.03.2017, with a total outstanding amount of Rs. 3,72,28,158/-. A demand notice was issued on 28.04.2021, but the corporate debtor did not reply. The corporate debtor was proceeded ex-parte due to their failure to appear and defend the petition.
Rajinder Infrastructure Private Limited (Operational Creditor) supplied building materials to Bajwa Developers Limited (Corporate Debtor) since 2015. Issues arose with outstanding payments starting from 16.01.2016. The first default occurred against Bill No. 14 dated 16.01.2016 for Rs. 5,51,884/-, with only Rs. 60,118/- received. Subsequent outstanding amounts against various bills totaled Rs. 3,72,28,158/-. The default period spanned from 16.01.2016 to 21.03.2017, corresponding to the invoice issuance dates. A demand notice in Form 3 & 4 was issued on 28.04.2021 and delivered to the Corporate Debtor, but no reply was received. The Corporate Debtor did not appear to defend the petition and was proceeded against ex-parte. The last payment was received on 23.05.2018.
…Rajinder Infrastructure Private Limited…
First default occurred…