The case involves an application filed by M/s Swastik Pipe Ltd., the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s Faridabad Stampings Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payment of an operational debt.
M/s Swastik Pipe Ltd. (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s Faridabad Stampings Pvt. Ltd. (corporate debtor). The operational creditor claimed that the corporate debtor defaulted on payment of an operational debt of Rs. 3,89,265/-. The operational creditor supplied C.R. Sheets to the corporate debtor. A demand notice was sent on 03.12.2019. The corporate debtor did not submit a reply but argued the matter on merits. The ledger showed that certain payments were regularly made, but a sum of Rs. 1,78,992/- was due as of 14.09.2018. The amount of Rs. 3,89,265/- includes the principal amount of Rs. 1,78,992/- and interest of Rs. 2,10,273/-. The corporate debtor did not dispute
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The Operational Creditor sent a Demand Notice…
A sum of Rs. 1,78,992/- was due against the…
The case involves an application filed by M/s Swastik Pipe Ltd., the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s Faridabad Stampings Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payment of an operational debt.
M/s Swastik Pipe Ltd. (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s Faridabad Stampings Pvt. Ltd. (corporate debtor). The operational creditor claimed that the corporate debtor defaulted on payment of an operational debt of Rs. 3,89,265/-. The operational creditor supplied C.R. Sheets to the corporate debtor. A demand notice was sent on 03.12.2019. The corporate debtor did not submit a reply but argued the matter on merits. The ledger showed that certain payments were regularly made, but a sum of Rs. 1,78,992/- was due as of 14.09.2018. The amount of Rs. 3,89,265/- includes the principal amount of Rs. 1,78,992/- and interest of Rs. 2,10,273/-. The corporate debtor did not dispute
…The Operational Creditor sent a Demand Notice…
A sum of Rs. 1,78,992/- was due against the…