Mansfield Cable Company Limited, acting through its Interim Resolution Professional, initiated a Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the respondent defaulted on payments for supplied steel cables. Previously, Mansfield Cable Company Limited had faced CIRP, which was later set aside by NCLAT. Subsequently, another CIRP was initiated against it. The applicant claimed an outstanding amount of Rs. 85,18,660/- with 18% interest per annum, based on five invoices dated 05.11.2016. The respondent also issued a confirmation of accounts on 01.04.2017, acknowledging the balance. A demand notice was issued on
…Mansfield Cable Company Limited (the applicant), through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mansfield Cables Company & Infrastructure Private Limited (the respondent), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the respondent defaulted on payments for steel cables supplied. The applicant had previously undergone CIRP, which was later overturned by NCLAT. Subsequently, another CIRP was initiated against the applicant. The applicant asserted that it supplied products to the respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an 18% per annum interest. The respondent issued a confirmation of
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Order dated 15.05.2018…
Mansfield Cable Company Limited, acting through its Interim Resolution Professional, initiated a Corporate Insolvency Resolution Process (CIRP) against Mansfield Cables Company & Infrastructure Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the respondent defaulted on payments for supplied steel cables. Previously, Mansfield Cable Company Limited had faced CIRP, which was later set aside by NCLAT. Subsequently, another CIRP was initiated against it. The applicant claimed an outstanding amount of Rs. 85,18,660/- with 18% interest per annum, based on five invoices dated 05.11.2016. The respondent also issued a confirmation of accounts on 01.04.2017, acknowledging the balance. A demand notice was issued on
…Mansfield Cable Company Limited (the applicant), through its Interim Resolution Professional, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mansfield Cables Company & Infrastructure Private Limited (the respondent), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the respondent defaulted on payments for steel cables supplied. The applicant had previously undergone CIRP, which was later overturned by NCLAT. Subsequently, another CIRP was initiated against the applicant. The applicant asserted that it supplied products to the respondent and raised five invoices dated 05.11.2016, totaling Rs. 85,18,660/-, with an 18% per annum interest. The respondent issued a confirmation of
…Applicant Company was…
Order dated 15.05.2018…