The case involves an application filed by IJM Concrete Products Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Expat Engineering India Limited, the corporate debtor, due to a default in payment of Rs. 1,79,76,153/-. The operational creditor supplied ready-mix concrete to the corporate debtor, and despite partial payments, a significant amount remained outstanding. A demand notice was issued on December 27, 2022, but the corporate debtor failed to repay the debt or issue a notice of dispute.
IJM Concrete Products Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Expat Engineering India Limited (Corporate Debtor). The Corporate Debtor defaulted on payments for the supply of ready-mix concrete, with a total outstanding amount of Rs. 1,79,76,153/-. The Date of Default is 24.08.2022. The Corporate Debtor acknowledged the payment due as on 12th January, 2022 by giving confirmation of outstanding balances through email for the period 01.04.2021 till 12.01.2022 for a sum of Rs. 1,41,45,775.60/-, but failed to pay the outstanding amount. After several reminders and follow-ups, on 12th February, 2022 the Corporate Debtor paid a sum
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The Corporate Debtor stopped payment after 24th…
The Operational Creditor sent a Demand Notice…
The case involves an application filed by IJM Concrete Products Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Expat Engineering India Limited, the corporate debtor, due to a default in payment of Rs. 1,79,76,153/-. The operational creditor supplied ready-mix concrete to the corporate debtor, and despite partial payments, a significant amount remained outstanding. A demand notice was issued on December 27, 2022, but the corporate debtor failed to repay the debt or issue a notice of dispute.
IJM Concrete Products Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Expat Engineering India Limited (Corporate Debtor). The Corporate Debtor defaulted on payments for the supply of ready-mix concrete, with a total outstanding amount of Rs. 1,79,76,153/-. The Date of Default is 24.08.2022. The Corporate Debtor acknowledged the payment due as on 12th January, 2022 by giving confirmation of outstanding balances through email for the period 01.04.2021 till 12.01.2022 for a sum of Rs. 1,41,45,775.60/-, but failed to pay the outstanding amount. After several reminders and follow-ups, on 12th February, 2022 the Corporate Debtor paid a sum
…The Corporate Debtor stopped payment after 24th…
The Operational Creditor sent a Demand Notice…