The case involves an application filed by Bindals Merchandise, an operational creditor, against Divyam Developers Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The application is based on an alleged default by the corporate debtor in making payments for goods supplied by the operational creditor.
Bindals Merchandise, the operational creditor, filed an application under Section 9 of the IBC, 2016, against Divyam Developers Private Limited, the corporate debtor, for initiating CIRP due to an outstanding debt of Rs. 68,29,866/-. The debt arose from the supply of Iron & Steel, Agro Products, Chemicals, fuel and Lubricants, Machinery Part and their accessories by Bindals Merchandise to Divyam Developers. The operational creditor supplied goods to the corporate debtor between 30.04.2014 and 10.06.2018, issuing invoices for the same. The corporate debtor made part payments, but a significant amount remained outstanding. The corporate debtor transferred 12 flats to the operational creditor as part payment. The operational creditor issued a demand notice under
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Operational creditor supplied goods to the…
The last payment was…
The case involves an application filed by Bindals Merchandise, an operational creditor, against Divyam Developers Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The application is based on an alleged default by the corporate debtor in making payments for goods supplied by the operational creditor.
Bindals Merchandise, the operational creditor, filed an application under Section 9 of the IBC, 2016, against Divyam Developers Private Limited, the corporate debtor, for initiating CIRP due to an outstanding debt of Rs. 68,29,866/-. The debt arose from the supply of Iron & Steel, Agro Products, Chemicals, fuel and Lubricants, Machinery Part and their accessories by Bindals Merchandise to Divyam Developers. The operational creditor supplied goods to the corporate debtor between 30.04.2014 and 10.06.2018, issuing invoices for the same. The corporate debtor made part payments, but a significant amount remained outstanding. The corporate debtor transferred 12 flats to the operational creditor as part payment. The operational creditor issued a demand notice under
…Operational creditor supplied goods to the…
The last payment was…