North Agro Industries Private Limited, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Mahindra and Mahindra Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The total amount of debt claimed was Rs. 3,77,95,546. The Operational Creditor supplied machinery to the Corporate Debtor, who regularly placed orders. The Corporate Debtor was liable to release payments as per the invoice raised by the Operational Creditor. The Operational Creditor sent several reminders for repayment, but no amounts were repaid. The Corporate Debtor issued a reply rejecting the demand raised by the Operational Creditor, citing pending litigation before
…North Agro Industries Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Mahindra and Mahindra Limited (Corporate Debtor) for initiating CIRP, claiming a debt of Rs. 3,77,95,546. The Operational Creditor supplied machinery to the Corporate Debtor, who regularly placed orders. The Corporate Debtor was to make payments as per the invoices. From January 2015 to March 2016, the Operational Creditor supplied machinery worth Rs. 1,47,65,400, raising 174 invoices. Despite reminders, the Corporate Debtor delayed payments. In 2017, the Operational Creditor filed a claim before the MSME Facilitation Council, which was challenged by the Corporate Debtor and is pending before the Punjab & Haryana
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North Agro Industries Private Limited filed CP…
The Operational Creditor issued a Demand Notice…
North Agro Industries Private Limited, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Mahindra and Mahindra Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The total amount of debt claimed was Rs. 3,77,95,546. The Operational Creditor supplied machinery to the Corporate Debtor, who regularly placed orders. The Corporate Debtor was liable to release payments as per the invoice raised by the Operational Creditor. The Operational Creditor sent several reminders for repayment, but no amounts were repaid. The Corporate Debtor issued a reply rejecting the demand raised by the Operational Creditor, citing pending litigation before
…North Agro Industries Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Mahindra and Mahindra Limited (Corporate Debtor) for initiating CIRP, claiming a debt of Rs. 3,77,95,546. The Operational Creditor supplied machinery to the Corporate Debtor, who regularly placed orders. The Corporate Debtor was to make payments as per the invoices. From January 2015 to March 2016, the Operational Creditor supplied machinery worth Rs. 1,47,65,400, raising 174 invoices. Despite reminders, the Corporate Debtor delayed payments. In 2017, the Operational Creditor filed a claim before the MSME Facilitation Council, which was challenged by the Corporate Debtor and is pending before the Punjab & Haryana
…North Agro Industries Private Limited filed CP…
The Operational Creditor issued a Demand Notice…