The case involves an application filed by NLDK Timbers Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Lav Laxmi Land Developers Pvt. Ltd. (Corporate Debtor) due to an alleged default in payment of Rs. 84,81,607/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor for furnishing a hotel in Varanasi between December 2014 and February 2017. The Corporate Debtor admitted to purchasing goods but disputed the quality and description of the supplied materials. The Operational Creditor served a demand notice under Section 8 of the I&B Code, 2016, which was not replied to by the Corporate Debtor. The Corporate Debtor also
…NLDK Timbers Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Lav Laxmi Land Developers Pvt. Ltd. (Corporate Debtor) for non-payment of Rs. 84,81,607/-. The Operational Creditor supplied flooring, veneers, inlays, timber, plywood, moldings, furniture, and metals to the Corporate Debtor between December 2014 and February 9, 2017, for furnishing a hotel in Varanasi. The Corporate Debtor would furnish C-Forms and make partial payments. The last invoice was for Rs. 35,190. The most recent payment of Rs. 25,00,000/- was made on January 30, 2018. The Operational Creditor sent emails on April 2, 2018, and May 17, 2018, to settle outstanding dues. The Corporate Debtor acknowledged the
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The Operational Creditor started supplying goods…
The last invoice bearing no.55, amounting to…
The case involves an application filed by NLDK Timbers Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Lav Laxmi Land Developers Pvt. Ltd. (Corporate Debtor) due to an alleged default in payment of Rs. 84,81,607/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor for furnishing a hotel in Varanasi between December 2014 and February 2017. The Corporate Debtor admitted to purchasing goods but disputed the quality and description of the supplied materials. The Operational Creditor served a demand notice under Section 8 of the I&B Code, 2016, which was not replied to by the Corporate Debtor. The Corporate Debtor also
…NLDK Timbers Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Lav Laxmi Land Developers Pvt. Ltd. (Corporate Debtor) for non-payment of Rs. 84,81,607/-. The Operational Creditor supplied flooring, veneers, inlays, timber, plywood, moldings, furniture, and metals to the Corporate Debtor between December 2014 and February 9, 2017, for furnishing a hotel in Varanasi. The Corporate Debtor would furnish C-Forms and make partial payments. The last invoice was for Rs. 35,190. The most recent payment of Rs. 25,00,000/- was made on January 30, 2018. The Operational Creditor sent emails on April 2, 2018, and May 17, 2018, to settle outstanding dues. The Corporate Debtor acknowledged the
…The Operational Creditor started supplying goods…
The last invoice bearing no.55, amounting to…