M/s Gujarat Enterprise, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Interbuild Infrastructure Private Limited, the Corporate Debtor. The petition was filed on 16.11.2022, claiming a default amount of Rs. 1,12,24,632/-, with the date of default specified as 23.01.2020. The Operational Creditor is a proprietary firm engaged in the trading of industrial fuel oil, while the Corporate Debtor is involved in construction and building installation. The Corporate Debtor requested the purchase of fuel oil from the Operational Creditor, leading to various purchase orders in 2019-2020.
M/s Gujarat Enterprise, an operational creditor, filed a petition under Section 9 of the IBC against M/s Interbuild Infrastructure Private Limited, a corporate debtor, for defaulting on a payment of Rs. 1,12,24,632/-. The default date was 23.01.2020. Gujarat Enterprise supplied fuel oil to Interbuild Infrastructure based on purchase orders from 2019-2020. Despite raising invoices, no payments were received. The corporate debtor issued cheques that were dishonored due to insufficient funds. A demand notice was issued on 12.09.2022, but no reply or payment was received. The invoices were due between 06.01.2020 and 12.03.2020. The application was filed on 16.11.2022. The corporate debtor did not appear or file a reply during the hearings.
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Corporate Debtor raised various purchase…
Specified d…
M/s Gujarat Enterprise, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Interbuild Infrastructure Private Limited, the Corporate Debtor. The petition was filed on 16.11.2022, claiming a default amount of Rs. 1,12,24,632/-, with the date of default specified as 23.01.2020. The Operational Creditor is a proprietary firm engaged in the trading of industrial fuel oil, while the Corporate Debtor is involved in construction and building installation. The Corporate Debtor requested the purchase of fuel oil from the Operational Creditor, leading to various purchase orders in 2019-2020.
M/s Gujarat Enterprise, an operational creditor, filed a petition under Section 9 of the IBC against M/s Interbuild Infrastructure Private Limited, a corporate debtor, for defaulting on a payment of Rs. 1,12,24,632/-. The default date was 23.01.2020. Gujarat Enterprise supplied fuel oil to Interbuild Infrastructure based on purchase orders from 2019-2020. Despite raising invoices, no payments were received. The corporate debtor issued cheques that were dishonored due to insufficient funds. A demand notice was issued on 12.09.2022, but no reply or payment was received. The invoices were due between 06.01.2020 and 12.03.2020. The application was filed on 16.11.2022. The corporate debtor did not appear or file a reply during the hearings.
Corporate Debtor raised various purchase…
Specified d…