This case involves an application filed by Evlion Technologies Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Khati Solutions Private Limited, the Corporate Debtor, due to a default in payment of Rs. 1,00,36,380/-. The Operational Creditor is a manufacturer of lithium batteries, and the Corporate Debtor approached them for the supply of goods, including lithium batteries. A vendor agreement was signed on 18.11.2021, outlining payment terms of 20% in advance, 77% before dispatch, and 3% for warranty costs. The Corporate Debtor issued a purchase order for 500 units of lithium battery packs. The Operational Creditor supplied 250 units,
…Evlion Technologies Private Limited (Operational Creditor) is a manufacturer of lithium batteries. Khati Solutions Private Limited (Corporate Debtor) approached Evlion for the supply of lithium batteries. A vendor agreement was signed on 2021-11-18, specifying payment terms: 20% advance, 77% before dispatch, and 3% for warranty. The Corporate Debtor issued purchase order no. 946 on 2021-11-25 for 500 units of lithium battery packs. The Operational Creditor supplied 250 units, and the Corporate Debtor paid for them. The Operational Creditor issued a proforma invoice on 2022-09-10 for the remaining 250 units, amounting to Rs. 1,00,54,000/-. Tax invoices were also issued on 2022-05-31 (Rs. 31,860) and 2022-06-08 (Rs. 16,520). The Corporate Debtor failed to make payment
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A vendor agreement was signed between Evlion…
Khati Solutions issued…
This case involves an application filed by Evlion Technologies Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Khati Solutions Private Limited, the Corporate Debtor, due to a default in payment of Rs. 1,00,36,380/-. The Operational Creditor is a manufacturer of lithium batteries, and the Corporate Debtor approached them for the supply of goods, including lithium batteries. A vendor agreement was signed on 18.11.2021, outlining payment terms of 20% in advance, 77% before dispatch, and 3% for warranty costs. The Corporate Debtor issued a purchase order for 500 units of lithium battery packs. The Operational Creditor supplied 250 units,
…Evlion Technologies Private Limited (Operational Creditor) is a manufacturer of lithium batteries. Khati Solutions Private Limited (Corporate Debtor) approached Evlion for the supply of lithium batteries. A vendor agreement was signed on 2021-11-18, specifying payment terms: 20% advance, 77% before dispatch, and 3% for warranty. The Corporate Debtor issued purchase order no. 946 on 2021-11-25 for 500 units of lithium battery packs. The Operational Creditor supplied 250 units, and the Corporate Debtor paid for them. The Operational Creditor issued a proforma invoice on 2022-09-10 for the remaining 250 units, amounting to Rs. 1,00,54,000/-. Tax invoices were also issued on 2022-05-31 (Rs. 31,860) and 2022-06-08 (Rs. 16,520). The Corporate Debtor failed to make payment
…A vendor agreement was signed between Evlion…
Khati Solutions issued…