The case involves an application filed by Naresh, Proprietor of Numax Steels, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Laxmi Engineering Industries (Bhopal) Pvt Ltd. The operational creditor claimed a debt of Rs. 9,77,012, including interest, with the date of default being 23.11.2018. The Operational Creditor was supplying steel items to the Corporate Debtor on a regular basis. The Corporate Debtor failed to honor the invoices raised by the Operational Creditor. The Operational Creditor sent a demand notice to the Corporate Debtor under Section 8 of the Insolvency and Bankruptcy Code, 2016.
Naresh, Proprietor of Numax Steels, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Laxmi Engineering Industries (Bhopal) Pvt Ltd. Naresh, the Operational Creditor, claimed that Laxmi Engineering Industries, the Corporate Debtor, defaulted on a debt of Rs. 9,77,012, with the default date being 23.11.2018. The Operational Creditor supplied steel items to the Corporate Debtor regularly. The Corporate Debtor failed to honor invoices raised by the Operational Creditor. A cheque issued by the Corporate Debtor for Rs. 8,90,900 was dishonored due to insufficient funds. The Operational Creditor sent a demand notice dated 15.06.2019 to the Corporate Debtor under Section 8 of the
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The Corporate…
A cheque issued by the Corporate Debtor…
The case involves an application filed by Naresh, Proprietor of Numax Steels, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Laxmi Engineering Industries (Bhopal) Pvt Ltd. The operational creditor claimed a debt of Rs. 9,77,012, including interest, with the date of default being 23.11.2018. The Operational Creditor was supplying steel items to the Corporate Debtor on a regular basis. The Corporate Debtor failed to honor the invoices raised by the Operational Creditor. The Operational Creditor sent a demand notice to the Corporate Debtor under Section 8 of the Insolvency and Bankruptcy Code, 2016.
Naresh, Proprietor of Numax Steels, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Laxmi Engineering Industries (Bhopal) Pvt Ltd. Naresh, the Operational Creditor, claimed that Laxmi Engineering Industries, the Corporate Debtor, defaulted on a debt of Rs. 9,77,012, with the default date being 23.11.2018. The Operational Creditor supplied steel items to the Corporate Debtor regularly. The Corporate Debtor failed to honor invoices raised by the Operational Creditor. A cheque issued by the Corporate Debtor for Rs. 8,90,900 was dishonored due to insufficient funds. The Operational Creditor sent a demand notice dated 15.06.2019 to the Corporate Debtor under Section 8 of the
…The Corporate…
A cheque issued by the Corporate Debtor…