The case originates from a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by RASPL Industries Private Limited (formerly ARS Steels Private Limited), the Operational Creditor, against Harihar International Private Limited, the Corporate Debtor. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid dues related to the supply of angles and beams.
RASPL Industries Private Limited (formerly ARS Steels Private Limited) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Harihar International Private Limited, seeking to initiate CIRP. The debt arose from the supply of angles and beams by RASPL Industries to Harihar International based on purchase orders. The total amount claimed by the Operational Creditor was ₹16,54,003/-, with an additional ₹3,81,693/- claimed as interest calculated at 24% p.a. up to 31.07.2018. The debt fell due from 24.05.2017. Demand Notices under section 8 of the Code were sent on 16.03.2018, but no reply was filed by the Corporate Debtor. The matter was set ex-parte on 4th December, 2019, and the Corporate Debtor did not appear despite service and
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The Insolven…
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The case originates from a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by RASPL Industries Private Limited (formerly ARS Steels Private Limited), the Operational Creditor, against Harihar International Private Limited, the Corporate Debtor. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid dues related to the supply of angles and beams.
RASPL Industries Private Limited (formerly ARS Steels Private Limited) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Harihar International Private Limited, seeking to initiate CIRP. The debt arose from the supply of angles and beams by RASPL Industries to Harihar International based on purchase orders. The total amount claimed by the Operational Creditor was ₹16,54,003/-, with an additional ₹3,81,693/- claimed as interest calculated at 24% p.a. up to 31.07.2018. The debt fell due from 24.05.2017. Demand Notices under section 8 of the Code were sent on 16.03.2018, but no reply was filed by the Corporate Debtor. The matter was set ex-parte on 4th December, 2019, and the Corporate Debtor did not appear despite service and
…The Insolven…
The debt fell…