The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by K. Selvam, Proprietor of M/s Clarion Enterprises (Operational Creditor), against Binzy Fab Erect Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for electrodes supplied from 12.01.2017 to 20.05.2017, resulting in an outstanding debt of Rs. 7,30,813/- towards principal and Rs. 3,49,992/- towards interest, totaling Rs. 10,80,735/-. The operational creditor issued a demand notice on 24.04.2019, but the corporate debtor failed to respond or make the payment. The demand notice sent to the registered address was returned with remarks
…K. Selvam, Proprietor of M/s Clarion Enterprises, supplied various types of electrodes to Binzy Fab Erect Private Limited from 12.01.2017 to 20.05.2017. The operational creditor raised 14 invoices for a total amount of Rs. 7,74,398/-, out of which Rs. 18,385/- was received, and 12 boxes of electrodes amounting to Rs. 25,200/- were returned, leaving a balance of Rs. 7,30,813/-. Interest at 24% was computed on the outstanding invoices, as per the agreed terms. The total outstanding amount, including interest, was Rs. 10,80,735/- as of 04.04.2019. The operational creditor sent a demand notice dated 24.04.2019, which was served at the Thiruvananthapuram office but returned undelivered from the registered address with remarks of 'insufficient address'. The operational
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by K. Selvam, Proprietor of M/s Clarion Enterprises (Operational Creditor), against Binzy Fab Erect Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for electrodes supplied from 12.01.2017 to 20.05.2017, resulting in an outstanding debt of Rs. 7,30,813/- towards principal and Rs. 3,49,992/- towards interest, totaling Rs. 10,80,735/-. The operational creditor issued a demand notice on 24.04.2019, but the corporate debtor failed to respond or make the payment. The demand notice sent to the registered address was returned with remarks
…K. Selvam, Proprietor of M/s Clarion Enterprises, supplied various types of electrodes to Binzy Fab Erect Private Limited from 12.01.2017 to 20.05.2017. The operational creditor raised 14 invoices for a total amount of Rs. 7,74,398/-, out of which Rs. 18,385/- was received, and 12 boxes of electrodes amounting to Rs. 25,200/- were returned, leaving a balance of Rs. 7,30,813/-. Interest at 24% was computed on the outstanding invoices, as per the agreed terms. The total outstanding amount, including interest, was Rs. 10,80,735/- as of 04.04.2019. The operational creditor sent a demand notice dated 24.04.2019, which was served at the Thiruvananthapuram office but returned undelivered from the registered address with remarks of 'insufficient address'. The operational
…First invoice raised by…
Last invoice raised by…