The case involves an application filed by M/s. Kisaan Steels Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Gemini Engi-Fab Pvt. Ltd (Corporate Debtor) for a total operational debt of Rs. 3,97,44,173/-. The Operational Creditor claimed to have supplied steel forgings to the Corporate Debtor based on purchase orders, but the Corporate Debtor failed to make full payments. The Corporate Debtor denies the averments and claims pre-existing disputes regarding the quality of goods and delays in delivery.
M/s. Kisaan Steels Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Gemini Engi-Fab Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 3,97,44,173/- for the supply of steel forgings based on multiple purchase orders. The Corporate Debtor issued multiple purchase orders to the Operational Creditor for the supply of steel forgings. The Operational Creditor supplied goods pursuant to these purchase orders. The total value of goods supplied by the Operational Creditor was Rs. 8,40,01,413/-, out of which Rs. 6,13,53,270.70/- remained outstanding. The Corporate Debtor made partial payments
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The case involves an application filed by M/s. Kisaan Steels Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Gemini Engi-Fab Pvt. Ltd (Corporate Debtor) for a total operational debt of Rs. 3,97,44,173/-. The Operational Creditor claimed to have supplied steel forgings to the Corporate Debtor based on purchase orders, but the Corporate Debtor failed to make full payments. The Corporate Debtor denies the averments and claims pre-existing disputes regarding the quality of goods and delays in delivery.
M/s. Kisaan Steels Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Gemini Engi-Fab Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 3,97,44,173/- for the supply of steel forgings based on multiple purchase orders. The Corporate Debtor issued multiple purchase orders to the Operational Creditor for the supply of steel forgings. The Operational Creditor supplied goods pursuant to these purchase orders. The total value of goods supplied by the Operational Creditor was Rs. 8,40,01,413/-, out of which Rs. 6,13,53,270.70/- remained outstanding. The Corporate Debtor made partial payments
…Respondent and Petitioner entered into a…
The Corporate Debtor approached the…