The case pertains to an application filed on 2021-07-30 by Somani Multibiz Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiating Corporate Insolvency Resolution Process (CIRP) against Ila Metals Private Limited, the Corporate Debtor. The Operational Creditor claimed a debt in default of Rs. 1,79,24,908.30, which includes an outstanding amount against invoices of Rs. 1,70,03,744.10 and interest at 12% per annum amounting to Rs. 9,21,164.20. The Corporate Debtor and Operational Creditor had a business relationship involving the sale and purchase of gold bars, formalized through a term sheet signed on 2020-12-01. The Operational Creditor supplied gold bars to the Corporate Debtor and raised invoices for
…Somani Multibiz Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ila Metals Private Limited (Corporate Debtor). The claim was for Rs. 1,79,24,908.30, including Rs. 1,70,03,744.10 against invoices and Rs. 9,21,164.20 as interest. The Operational Creditor and Corporate Debtor had a business relationship involving the sale and purchase of gold bars, based on a term sheet signed on 2020-12-01. The Operational Creditor supplied gold bars to the Corporate Debtor and raised five invoices between 2020-12-07 and 2020-12-15. A demand notice was issued to the Corporate Debtor on 2021-05-31. The Corporate Debtor responded on 2021-07-05, citing
…Sign in to view the parties.
The Corporate Debtor and Operational Creditor…
Invoice No. 2…
The case pertains to an application filed on 2021-07-30 by Somani Multibiz Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiating Corporate Insolvency Resolution Process (CIRP) against Ila Metals Private Limited, the Corporate Debtor. The Operational Creditor claimed a debt in default of Rs. 1,79,24,908.30, which includes an outstanding amount against invoices of Rs. 1,70,03,744.10 and interest at 12% per annum amounting to Rs. 9,21,164.20. The Corporate Debtor and Operational Creditor had a business relationship involving the sale and purchase of gold bars, formalized through a term sheet signed on 2020-12-01. The Operational Creditor supplied gold bars to the Corporate Debtor and raised invoices for
…Somani Multibiz Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ila Metals Private Limited (Corporate Debtor). The claim was for Rs. 1,79,24,908.30, including Rs. 1,70,03,744.10 against invoices and Rs. 9,21,164.20 as interest. The Operational Creditor and Corporate Debtor had a business relationship involving the sale and purchase of gold bars, based on a term sheet signed on 2020-12-01. The Operational Creditor supplied gold bars to the Corporate Debtor and raised five invoices between 2020-12-07 and 2020-12-15. A demand notice was issued to the Corporate Debtor on 2021-05-31. The Corporate Debtor responded on 2021-07-05, citing
…The Corporate Debtor and Operational Creditor…
Invoice No. 2…