Mansfield Cable Company Limited, through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Mansfield Cables Company & Infrastructure Private Limited. The Applicant Company was previously admitted into CIRP by the NCLT in 2018, but the order was set aside by the NCLAT. Subsequently, CIRP was again initiated against the Applicant Company in 2022.
Mansfield Cable Company Limited (the 'Applicant/Operational Creditor') filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC, 2016') to initiate Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited (the 'Respondent'). The Applicant claimed that the Respondent defaulted on a payment of Rs. 1,28,75,079 as of 07.09.2019, with the initial default occurring on 01.04.2017, when the Respondent issued a confirmation of accounts. The Applicant had supplied steel cables to the Respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an interest of 18% per annum. The Applicant also deposited VAT & Excise duty on the invoices. A demand notice dated
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Mansfield Cables…
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Mansfield Cable Company Limited, through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Mansfield Cables Company & Infrastructure Private Limited. The Applicant Company was previously admitted into CIRP by the NCLT in 2018, but the order was set aside by the NCLAT. Subsequently, CIRP was again initiated against the Applicant Company in 2022.
Mansfield Cable Company Limited (the 'Applicant/Operational Creditor') filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC, 2016') to initiate Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited (the 'Respondent'). The Applicant claimed that the Respondent defaulted on a payment of Rs. 1,28,75,079 as of 07.09.2019, with the initial default occurring on 01.04.2017, when the Respondent issued a confirmation of accounts. The Applicant had supplied steel cables to the Respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an interest of 18% per annum. The Applicant also deposited VAT & Excise duty on the invoices. A demand notice dated
…Mansfield Cables…
Applicant rais…