M/s. Faiz Enterprises, the operational creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Kalpak Industrial Technologies (India) Private Limited, the corporate debtor, due to an unresolved operational debt of Rs. 25,08,868/-. The operational creditor had been supplying MS CEW and M.S. Seamless Pipes to the corporate debtor since 2018 as per purchase orders. Several invoices were raised, and partial payments were made, but significant amounts remained outstanding. The corporate debtor had also issued cheques that were later dishonored.
M/s. Faiz Enterprises (Operational Creditor) filed a petition against M/s. Kalpak Industrial Technologies (India) Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP due to an outstanding operational debt of Rs. 25,08,868/-. The Operational Creditor had been supplying MS CEW and M.S. Seamless Pipes to the Corporate Debtor since 2018. On 24.11.2018, the Operational Creditor supplied pipes and raised an invoice for Rs. 2,64,947/-, out of which Rs. 1,78,730/- was paid on 20.04.2019, leaving Rs. 86,217/- outstanding. Another invoice was raised on 03.12.2018 for Rs. 4,49,079/-, which remained unpaid. The Corporate Debtor ordered more pipes, assuring payment of all pending dues. An invoice was raised on
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Operational Creditor started supplying MS CEW…
Operational Creditor…
M/s. Faiz Enterprises, the operational creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Kalpak Industrial Technologies (India) Private Limited, the corporate debtor, due to an unresolved operational debt of Rs. 25,08,868/-. The operational creditor had been supplying MS CEW and M.S. Seamless Pipes to the corporate debtor since 2018 as per purchase orders. Several invoices were raised, and partial payments were made, but significant amounts remained outstanding. The corporate debtor had also issued cheques that were later dishonored.
M/s. Faiz Enterprises (Operational Creditor) filed a petition against M/s. Kalpak Industrial Technologies (India) Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP due to an outstanding operational debt of Rs. 25,08,868/-. The Operational Creditor had been supplying MS CEW and M.S. Seamless Pipes to the Corporate Debtor since 2018. On 24.11.2018, the Operational Creditor supplied pipes and raised an invoice for Rs. 2,64,947/-, out of which Rs. 1,78,730/- was paid on 20.04.2019, leaving Rs. 86,217/- outstanding. Another invoice was raised on 03.12.2018 for Rs. 4,49,079/-, which remained unpaid. The Corporate Debtor ordered more pipes, assuring payment of all pending dues. An invoice was raised on
…Operational Creditor started supplying MS CEW…
Operational Creditor…