The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mr. Ramdeo R. Agarwal, proprietor of M/s. Agarwal Coal Depot (the Operational Creditor), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Harkar Developers Private Limited (the Corporate Debtor). The petition was filed due to the Corporate Debtor's failure to pay outstanding dues for the supply of coal.
Mr. Ramdeo R. Agarwal, operating as M/s. Agarwal Coal Depot, supplied coal to Harkar Developers Private Limited from the financial year 2015-2016 until March 2018. Harkar Developers made delayed payments, with the last payment on 2018-02-26. As of 2020-12-15, the outstanding amount was Rs. 1,89,57,920. Agarwal Coal Depot sent a demand notice on 2020-12-22, which was received by Harkar Developers on 2021-01-12. The outstanding amount as of 2018-03-10 was Rs. 1,12,67,715. The petition was filed on 2021-02-10. The Corporate Debtor did not respond to notices or appear in court. The Operational Creditor provided GST and TCS returns as proof of supply. The debt was more than Rs. 1,00,00,000.
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Agarwal Coal Depot…
Agarwal Coal Depot…
The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mr. Ramdeo R. Agarwal, proprietor of M/s. Agarwal Coal Depot (the Operational Creditor), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Harkar Developers Private Limited (the Corporate Debtor). The petition was filed due to the Corporate Debtor's failure to pay outstanding dues for the supply of coal.
Mr. Ramdeo R. Agarwal, operating as M/s. Agarwal Coal Depot, supplied coal to Harkar Developers Private Limited from the financial year 2015-2016 until March 2018. Harkar Developers made delayed payments, with the last payment on 2018-02-26. As of 2020-12-15, the outstanding amount was Rs. 1,89,57,920. Agarwal Coal Depot sent a demand notice on 2020-12-22, which was received by Harkar Developers on 2021-01-12. The outstanding amount as of 2018-03-10 was Rs. 1,12,67,715. The petition was filed on 2021-02-10. The Corporate Debtor did not respond to notices or appear in court. The Operational Creditor provided GST and TCS returns as proof of supply. The debt was more than Rs. 1,00,00,000.
Agarwal Coal Depot…
Agarwal Coal Depot…