The case involves a petition filed by Singhal Pipes Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against LA Residentia Developers Private Limited (Corporate Debtor) for default in payment of operational debt. The operational creditor supplied plumbing materials to the corporate debtor, for which payments were outstanding. The corporate debtor is a real estate developer. The application was filed on 03-01-2020.
Singhal Pipes Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against LA Residentia Developers Private Limited (Corporate Debtor). The Operational Creditor supplied plumbing materials to the Corporate Debtor from 15.02.2017 to 20.05.2017, raising invoices for which payment was outstanding. The total debt claimed was Rs. 28,07,764/-, including principal (Rs. 18,25,329/-) and interest (@24% per annum of Rs. 9,82,435/-). A demand notice dated 01.07.2019 was issued to the Corporate Debtor. The Corporate Debtor made some part payments but failed to liquidate the entire debt. The Corporate Debtor argued that it was part of the Amrapali Group and
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The Respondent approached the Applicant to…
From 15.02.2017 till 20.05.2017, the…
The case involves a petition filed by Singhal Pipes Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against LA Residentia Developers Private Limited (Corporate Debtor) for default in payment of operational debt. The operational creditor supplied plumbing materials to the corporate debtor, for which payments were outstanding. The corporate debtor is a real estate developer. The application was filed on 03-01-2020.
Singhal Pipes Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against LA Residentia Developers Private Limited (Corporate Debtor). The Operational Creditor supplied plumbing materials to the Corporate Debtor from 15.02.2017 to 20.05.2017, raising invoices for which payment was outstanding. The total debt claimed was Rs. 28,07,764/-, including principal (Rs. 18,25,329/-) and interest (@24% per annum of Rs. 9,82,435/-). A demand notice dated 01.07.2019 was issued to the Corporate Debtor. The Corporate Debtor made some part payments but failed to liquidate the entire debt. The Corporate Debtor argued that it was part of the Amrapali Group and
…The Respondent approached the Applicant to…
From 15.02.2017 till 20.05.2017, the…