Belgium Glass and Ceramics Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Eurocoin Ceramics Pvt. Ltd, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The claim was for a default amount of Rs. 1,75,26,455/- along with 24% interest. The date of default was stated to be between 2018 and 2022. The application was initially dismissed due to lack of service on the respondent, but the NCLAT remanded the matter for reconsideration.
Belgium Glass and Ceramics Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Eurocoin Ceramics Pvt. Ltd (Corporate Debtor). The operational creditor claimed a default amount of Rs. 1,75,26,455/- along with 24% interest. The date of default was stated to be 03.09.2018. The operational creditor supplied raw materials to the corporate debtor between 05.07.2018 and 11.02.2020, based on mutually agreed terms of a 60-day credit period. The corporate debtor accepted the payment terms and conditions and did not dispute the quality of the materials. A demand notice was sent on 31.08.2022. The corporate debtor admitted that its registered office had not been in use for over two years due to financial
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Belgium Glass and Ceramics Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Eurocoin Ceramics Pvt. Ltd, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The claim was for a default amount of Rs. 1,75,26,455/- along with 24% interest. The date of default was stated to be between 2018 and 2022. The application was initially dismissed due to lack of service on the respondent, but the NCLAT remanded the matter for reconsideration.
Belgium Glass and Ceramics Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Eurocoin Ceramics Pvt. Ltd (Corporate Debtor). The operational creditor claimed a default amount of Rs. 1,75,26,455/- along with 24% interest. The date of default was stated to be 03.09.2018. The operational creditor supplied raw materials to the corporate debtor between 05.07.2018 and 11.02.2020, based on mutually agreed terms of a 60-day credit period. The corporate debtor accepted the payment terms and conditions and did not dispute the quality of the materials. A demand notice was sent on 31.08.2022. The corporate debtor admitted that its registered office had not been in use for over two years due to financial
…The debt fell…
Applicant supplied raw materials to the…