The case involves a petition filed by Kriyas Unipro Private Limited (Operational Creditor) against BFIP Enterprises Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment of Rs. 1,19,39,426/-.
BFIP Enterprises Private Limited (Corporate Debtor) is in the business of purchasing steam coal and selling it to customers on a commission basis. Kriyas Unipro Private Limited (Operational Creditor) supplied steam coal to the Corporate Debtor based on purchase orders. The Operational Creditor raised invoices for a total amount of Rs. 1,47,39,426/- for the steam coal supplied between 17.03.2022 and 24.05.2022. The Corporate Debtor made a partial payment of Rs. 28,00,000/- on 23.03.2022, leaving an outstanding amount of Rs. 1,19,39,426/-. The Operational Creditor sent a demand notice on 30.09.2022, which was received by the Corporate Debtor on 07.10.2022, but no payment or reply was made. The Corporate Debtor's counsel did not deny the outstanding debt. The Operational
…Sign in to view the parties.
Corporate Debtor raised…
Corporate Debtor raised…
The case involves a petition filed by Kriyas Unipro Private Limited (Operational Creditor) against BFIP Enterprises Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment of Rs. 1,19,39,426/-.
BFIP Enterprises Private Limited (Corporate Debtor) is in the business of purchasing steam coal and selling it to customers on a commission basis. Kriyas Unipro Private Limited (Operational Creditor) supplied steam coal to the Corporate Debtor based on purchase orders. The Operational Creditor raised invoices for a total amount of Rs. 1,47,39,426/- for the steam coal supplied between 17.03.2022 and 24.05.2022. The Corporate Debtor made a partial payment of Rs. 28,00,000/- on 23.03.2022, leaving an outstanding amount of Rs. 1,19,39,426/-. The Operational Creditor sent a demand notice on 30.09.2022, which was received by the Corporate Debtor on 07.10.2022, but no payment or reply was made. The Corporate Debtor's counsel did not deny the outstanding debt. The Operational
…Corporate Debtor raised…
Corporate Debtor raised…