Millenium Enterprise, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Bombay Infrastructure India Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 4,25,87,736/- pursuant to 5 invoices, consisting of a principal amount of Rs. 3,07,15,314/- along with interest @24% amounting to Rs.1,18,72,422/-. The Corporate Debtor was looking to buy steel and iron products for its running project of redevelopment and accordingly, enquired to the Operational Creditor and asked to provide a quote in respect of the required products.
Millenium Enterprise (Operational Creditor) filed an application against Bombay Infrastructure India Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 4,25,87,736/- based on 5 unpaid invoices, comprising Rs. 3,07,15,314/- principal and Rs. 1,18,72,422/- interest. The Corporate Debtor, involved in a redevelopment project, had sought steel and iron product quotes from the Operational Creditor in June 2021. The Operational Creditor issued a proforma invoice quotation on 03.06.2021. The Corporate Debtor approved the proforma invoice and issued Purchase Order No. BIIL/0012/21-22 on 11.06.2021. The Operational Creditor delivered materials against the purchase order in July
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Corporate Debtor enquired to the Operational…
Operational Creditor…
Millenium Enterprise, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Bombay Infrastructure India Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 4,25,87,736/- pursuant to 5 invoices, consisting of a principal amount of Rs. 3,07,15,314/- along with interest @24% amounting to Rs.1,18,72,422/-. The Corporate Debtor was looking to buy steel and iron products for its running project of redevelopment and accordingly, enquired to the Operational Creditor and asked to provide a quote in respect of the required products.
Millenium Enterprise (Operational Creditor) filed an application against Bombay Infrastructure India Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed Rs. 4,25,87,736/- based on 5 unpaid invoices, comprising Rs. 3,07,15,314/- principal and Rs. 1,18,72,422/- interest. The Corporate Debtor, involved in a redevelopment project, had sought steel and iron product quotes from the Operational Creditor in June 2021. The Operational Creditor issued a proforma invoice quotation on 03.06.2021. The Corporate Debtor approved the proforma invoice and issued Purchase Order No. BIIL/0012/21-22 on 11.06.2021. The Operational Creditor delivered materials against the purchase order in July
…Corporate Debtor enquired to the Operational…
Operational Creditor…