Arisunitern Re Solutions Pvt Ltd, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Gulam Mustafa Enterprises Pvt Ltd, the corporate debtor, due to an alleged default in payment of Rs. 7,11,24,796/-. The operational creditor claimed that the corporate debtor failed to make payments for the supply of steel and other real estate products and services. The corporate debtor contested the petition, alleging subpar quality of goods and a pre-existing dispute.
Arisunitern Re Solutions Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the IBC against Gulam Mustafa Enterprises Pvt Ltd (Corporate Debtor) seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 7,11,24,796/- for the supply of steel and other real estate products and services. The Corporate Debtor engaged in real estate business and approached the Operational Creditor in December 2021 for the supply of goods. A purchase order was issued on 25/01/2022, and the Operational Creditor continuously supplied materials and services. Invoices were raised with a credit period of 60 days, later reduced to 1 day from August 2022. The Corporate Debtor acknowledged the receipt of invoices and
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The Corporate Debtor approached the…
The Corporate Debtor issued a purchase order to…
Arisunitern Re Solutions Pvt Ltd, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Gulam Mustafa Enterprises Pvt Ltd, the corporate debtor, due to an alleged default in payment of Rs. 7,11,24,796/-. The operational creditor claimed that the corporate debtor failed to make payments for the supply of steel and other real estate products and services. The corporate debtor contested the petition, alleging subpar quality of goods and a pre-existing dispute.
Arisunitern Re Solutions Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the IBC against Gulam Mustafa Enterprises Pvt Ltd (Corporate Debtor) seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 7,11,24,796/- for the supply of steel and other real estate products and services. The Corporate Debtor engaged in real estate business and approached the Operational Creditor in December 2021 for the supply of goods. A purchase order was issued on 25/01/2022, and the Operational Creditor continuously supplied materials and services. Invoices were raised with a credit period of 60 days, later reduced to 1 day from August 2022. The Corporate Debtor acknowledged the receipt of invoices and
…The Corporate Debtor approached the…
The Corporate Debtor issued a purchase order to…