This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by M/s. Arm Welders Private Limited, the Operational Creditor, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Genix Automation Private Limited, the Corporate Debtor. The Operational Creditor claims that an amount of Rs. 1,76,35,847/- together with interest at the rate of 36% p.a which aggregates to Rs.7,45,18,927/- is due and payable by the Corporate Debtor. The date of default is as per default of individual invoices from December 2013 to July 2014.
M/s. Arm Welders Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against M/s. Genix Automation Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor owed Rs. 1,76,35,847/- plus interest, totaling Rs. 7,45,18,927/-, based on unpaid invoices for goods supplied from December 2013 to July 2014. The Corporate Debtor acknowledged the debt in a statement of account dated 15.06.2017 and via email on 15.09.2022. A demand notice was sent to the Corporate Debtor but was returned undelivered. The Corporate Debtor failed to appear before the NCLT despite receiving notice and was subsequently set
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Operational Creditor…
Operational Creditor…
This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by M/s. Arm Welders Private Limited, the Operational Creditor, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Genix Automation Private Limited, the Corporate Debtor. The Operational Creditor claims that an amount of Rs. 1,76,35,847/- together with interest at the rate of 36% p.a which aggregates to Rs.7,45,18,927/- is due and payable by the Corporate Debtor. The date of default is as per default of individual invoices from December 2013 to July 2014.
M/s. Arm Welders Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against M/s. Genix Automation Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor owed Rs. 1,76,35,847/- plus interest, totaling Rs. 7,45,18,927/-, based on unpaid invoices for goods supplied from December 2013 to July 2014. The Corporate Debtor acknowledged the debt in a statement of account dated 15.06.2017 and via email on 15.09.2022. A demand notice was sent to the Corporate Debtor but was returned undelivered. The Corporate Debtor failed to appear before the NCLT despite receiving notice and was subsequently set
…Operational Creditor…
Operational Creditor…