The case involves an application filed by Fomra Electricals, the Operational Creditor, against Iota Automation Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor claimed Rs.9,62,370.52/- (inclusive of 24% interest p.a.) was due for the supply of electrical products, with payment due from Invoice No: HOGSTLS171808067 dated 28.02.2018. The Corporate Debtor had filed a counter statement alleging delays in the supply of goods. The application was initially admitted on 23.12.2020, then closed on 11.01.2021, and subsequently revived on 17.02.2022.
Fomra Electricals (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Iota Automation Private Limited (Corporate Debtor) for unpaid operational debt amounting to Rs.9,62,370.52/- (inclusive of 24% interest p.a.) for the supply of electrical products. The payment was due from Invoice No: HOGSTLS171808067 dated 28.02.2018. A cheque issued by the Corporate Debtor was returned due to insufficient funds. The Operational Creditor issued a Form-III Statutory Demand Notice on 10.07.2019, which the Corporate Debtor did not reply to. The Corporate Debtor filed a counter statement alleging delays in the supply of goods, leading to project delays and order cancellations. The Corporate Debtor acknowledged a liability of
…Sign in to view the parties.
Invoice No: HOGSTLS171808067 issued by Fomra…
Form-III Statutory Demand Notice issued by…
The case involves an application filed by Fomra Electricals, the Operational Creditor, against Iota Automation Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor claimed Rs.9,62,370.52/- (inclusive of 24% interest p.a.) was due for the supply of electrical products, with payment due from Invoice No: HOGSTLS171808067 dated 28.02.2018. The Corporate Debtor had filed a counter statement alleging delays in the supply of goods. The application was initially admitted on 23.12.2020, then closed on 11.01.2021, and subsequently revived on 17.02.2022.
Fomra Electricals (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Iota Automation Private Limited (Corporate Debtor) for unpaid operational debt amounting to Rs.9,62,370.52/- (inclusive of 24% interest p.a.) for the supply of electrical products. The payment was due from Invoice No: HOGSTLS171808067 dated 28.02.2018. A cheque issued by the Corporate Debtor was returned due to insufficient funds. The Operational Creditor issued a Form-III Statutory Demand Notice on 10.07.2019, which the Corporate Debtor did not reply to. The Corporate Debtor filed a counter statement alleging delays in the supply of goods, leading to project delays and order cancellations. The Corporate Debtor acknowledged a liability of
…Invoice No: HOGSTLS171808067 issued by Fomra…
Form-III Statutory Demand Notice issued by…