BCPL International Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Kalimata Ispat Industries Private Limited. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for steel products supplied between 2017 and 2018. The Corporate Debtor contested the claim, alleging that the supplied goods were of substandard quality and that pre-existing disputes existed between the parties.
BCPL International Limited (Operational Creditor) claimed that Kalimata Ispat Industries Private Limited (Corporate Debtor) defaulted on payments for steel products supplied between 2017 and 2018, amounting to ₹3,01,89,141/-. The Corporate Debtor argued that the supplied goods were of substandard quality, leading to rejection of materials and business losses. They claimed a total claim of ₹2,92,00,000/- against the Operational Creditor. The Corporate Debtor presented letters from 2017 and 2019 disputing the quality of the goods and requesting their removal. The Operational Creditor alleged that these letters were fabricated, pointing to discrepancies in postal information and email communications. The Corporate Debtor had made payments of ₹7,96,10,791/- against the
…Sign in to view the parties.
Hyde Road Post Office…
Operational Creditor…
BCPL International Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Kalimata Ispat Industries Private Limited. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for steel products supplied between 2017 and 2018. The Corporate Debtor contested the claim, alleging that the supplied goods were of substandard quality and that pre-existing disputes existed between the parties.
BCPL International Limited (Operational Creditor) claimed that Kalimata Ispat Industries Private Limited (Corporate Debtor) defaulted on payments for steel products supplied between 2017 and 2018, amounting to ₹3,01,89,141/-. The Corporate Debtor argued that the supplied goods were of substandard quality, leading to rejection of materials and business losses. They claimed a total claim of ₹2,92,00,000/- against the Operational Creditor. The Corporate Debtor presented letters from 2017 and 2019 disputing the quality of the goods and requesting their removal. The Operational Creditor alleged that these letters were fabricated, pointing to discrepancies in postal information and email communications. The Corporate Debtor had made payments of ₹7,96,10,791/- against the
…Hyde Road Post Office…
Operational Creditor…