The case involves an application filed by M/s Rangrao Baburao Gaikwad, the Operational Creditor, against M/s Ind Barath Energies (Maharashtra) Ltd, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleges that the Corporate Debtor defaulted in payment of an operational debt amounting to Rs. 56,55,158/- for the supply of rice husk. The Corporate Debtor denies the debt and claims there is no direct relationship between them and the Operational Creditor.
Rangrao Baburao Gaikwad, the Operational Creditor, filed an application against Ind Barath Energies (Maharashtra) Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 56,55,158/- for the supply of rice husk. The Operational Creditor is a designated partner in RSP Energy LLP. RSP Energy LLP and Ind Barath Power Infra Limited entered into a Memorandum of Understanding (MoU) dated 03.11.2016. Clause 1(b) of the MoU required RSP Energy LLP to provide fuel on stated terms. The Operational Creditor supplied rice husk to the Corporate Debtor on 22.02.2017, 28.02.2017, and 31.03.2017. A demand notice was issued on 24.10.2018. The Corporate Debtor denied the debt, claiming no direct
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RSP Energy LLP and Ind Barath Power Infra…
Operational Creditor…
The case involves an application filed by M/s Rangrao Baburao Gaikwad, the Operational Creditor, against M/s Ind Barath Energies (Maharashtra) Ltd, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleges that the Corporate Debtor defaulted in payment of an operational debt amounting to Rs. 56,55,158/- for the supply of rice husk. The Corporate Debtor denies the debt and claims there is no direct relationship between them and the Operational Creditor.
Rangrao Baburao Gaikwad, the Operational Creditor, filed an application against Ind Barath Energies (Maharashtra) Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 56,55,158/- for the supply of rice husk. The Operational Creditor is a designated partner in RSP Energy LLP. RSP Energy LLP and Ind Barath Power Infra Limited entered into a Memorandum of Understanding (MoU) dated 03.11.2016. Clause 1(b) of the MoU required RSP Energy LLP to provide fuel on stated terms. The Operational Creditor supplied rice husk to the Corporate Debtor on 22.02.2017, 28.02.2017, and 31.03.2017. A demand notice was issued on 24.10.2018. The Corporate Debtor denied the debt, claiming no direct
…RSP Energy LLP and Ind Barath Power Infra…
Operational Creditor…