The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Metal Trading Co. (Operational Creditor) represented by Mr. Purshottam Lal Gupta, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Deneb Automotives Private Limited (Corporate Debtor). The Operational Creditor claimed default on the part of the Corporate Debtor for the supply of goods. The Adjudicating Authority considered whether the demand notice was properly served, whether the operational debt was disputed, and whether the application was filed within the limitation period.
M/s Metal Trading Co. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Deneb Automotives Private Limited (Corporate Debtor). The Corporate Debtor is engaged in the business of manufacturing and supplying household accessories. The Operational Creditor supplied CR Steel strips to the Corporate Debtor from March 2018 and issued various invoices. The amount claimed to be in default is Rs.39,35,057/- (including interest of Rs. 3,33,608/-), and the date on which default occurred is 14.04.2018. A demand notice in Form 3 dated 30.07.2019 was issued to the Corporate Debtor. The Corporate Debtor did not appear despite repeated service and was set ex parte.
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Operational Creditor…
Date on whi…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Metal Trading Co. (Operational Creditor) represented by Mr. Purshottam Lal Gupta, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Deneb Automotives Private Limited (Corporate Debtor). The Operational Creditor claimed default on the part of the Corporate Debtor for the supply of goods. The Adjudicating Authority considered whether the demand notice was properly served, whether the operational debt was disputed, and whether the application was filed within the limitation period.
M/s Metal Trading Co. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Deneb Automotives Private Limited (Corporate Debtor). The Corporate Debtor is engaged in the business of manufacturing and supplying household accessories. The Operational Creditor supplied CR Steel strips to the Corporate Debtor from March 2018 and issued various invoices. The amount claimed to be in default is Rs.39,35,057/- (including interest of Rs. 3,33,608/-), and the date on which default occurred is 14.04.2018. A demand notice in Form 3 dated 30.07.2019 was issued to the Corporate Debtor. The Corporate Debtor did not appear despite repeated service and was set ex parte.
…Operational Creditor…
Date on whi…