Transtec Overseas Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dheeraj Aviation Ground Equipments Private Limited, the Corporate Debtor. The application was based on unpaid VAT liability related to transactions between the parties during the financial years 2008-09 and 2014-15. The Operational Creditor claimed that the Corporate Debtor had failed to pay the VAT amount to the Sales Tax Authorities, leading to demand notices being issued to the Operational Creditor.
Transtec Overseas Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dheeraj Aviation Ground Equipments Private Limited (Corporate Debtor). The application was based on unpaid VAT liability related to transactions between the parties during the financial years 2008-09 and 2014-15. The Operational Creditor claimed that it had paid sales tax/VAT on behalf of the Corporate Debtor for job work in 2008-09, amounting to Rs. 2,03,609, and that the Corporate Debtor had failed to submit Form 'C' worth Rs. 3,72,759 against job work in 2014-15. The total debt in default was shown as Rs. 9,82,972, including interest. The Corporate Debtor argued
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Operational Creditor purchased aviation ground…
The Corporate Debtor purchased certain…
Transtec Overseas Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dheeraj Aviation Ground Equipments Private Limited, the Corporate Debtor. The application was based on unpaid VAT liability related to transactions between the parties during the financial years 2008-09 and 2014-15. The Operational Creditor claimed that the Corporate Debtor had failed to pay the VAT amount to the Sales Tax Authorities, leading to demand notices being issued to the Operational Creditor.
Transtec Overseas Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dheeraj Aviation Ground Equipments Private Limited (Corporate Debtor). The application was based on unpaid VAT liability related to transactions between the parties during the financial years 2008-09 and 2014-15. The Operational Creditor claimed that it had paid sales tax/VAT on behalf of the Corporate Debtor for job work in 2008-09, amounting to Rs. 2,03,609, and that the Corporate Debtor had failed to submit Form 'C' worth Rs. 3,72,759 against job work in 2014-15. The total debt in default was shown as Rs. 9,82,972, including interest. The Corporate Debtor argued
…Operational Creditor purchased aviation ground…
The Corporate Debtor purchased certain…