The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by KCO Aluminium LLP (Operational Creditor) against Elhard Marketing Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default amount of Rs. 37,06,940/-. The Corporate Debtor contested the application, asserting a pre-existing dispute and lack of contractual obligation.
KCO Aluminium LLP (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Elhard Marketing Limited (Corporate Debtor) for a default of Rs. 37,06,940/-. The Operational Creditor claimed to have supplied Aluminum Cables to the Corporate Debtor based on an invoice dated 23 May, 2018. The Corporate Debtor argued that it had a business relationship with Crystal Cable Industries Limited (CCIL) and that the Operational Creditor acted as a dealer/financer for CCIL. The Corporate Debtor presented letters to CCIL complaining about the quality of materials supplied and stating that it would not be responsible for payments related to substandard goods. The Corporate Debtor also claimed that the Operational Creditor fabricated a
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The Operational…
The date of default is…
The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by KCO Aluminium LLP (Operational Creditor) against Elhard Marketing Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default amount of Rs. 37,06,940/-. The Corporate Debtor contested the application, asserting a pre-existing dispute and lack of contractual obligation.
KCO Aluminium LLP (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Elhard Marketing Limited (Corporate Debtor) for a default of Rs. 37,06,940/-. The Operational Creditor claimed to have supplied Aluminum Cables to the Corporate Debtor based on an invoice dated 23 May, 2018. The Corporate Debtor argued that it had a business relationship with Crystal Cable Industries Limited (CCIL) and that the Operational Creditor acted as a dealer/financer for CCIL. The Corporate Debtor presented letters to CCIL complaining about the quality of materials supplied and stating that it would not be responsible for payments related to substandard goods. The Corporate Debtor also claimed that the Operational Creditor fabricated a
…The Operational…
The date of default is…