The case involves an application filed by Bhadreshwar Vidhyut Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Max Granito Private Limited (Corporate Debtor) for an outstanding amount of Rs. 64,51,107, comprising principal and late payment surcharge. The Operational Creditor supplied electricity to the Corporate Debtor based on an agreement dated 31.03.2015, but the Corporate Debtor allegedly failed to pay the outstanding amount despite repeated requests. The Corporate Debtor contended that there was no amount due, the claim was barred by limitation, and excess payment was made.
Bhadreshwar Vidyut Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Max Granito Private Limited (Corporate Debtor). The application was filed on 15.11.2019. The Operational Creditor claimed an outstanding amount of Rs. 64,51,107, including principal (Rs. 23,73,190) and late payment surcharge (Rs. 40,77,917). An agreement dated 31.03.2015 was executed between the parties for the supply of 1.09 MW electricity. The Operational Creditor supplied electricity from April to June 2015 and raised invoices. The Corporate Debtor made payments on an ad hoc basis, leaving the claimed amount outstanding. The Operational Creditor issued a demand
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Agreement executed between Bhadreshwar Vidyut…
Bhadreshwar Vidyut Private Limited supplied…
The case involves an application filed by Bhadreshwar Vidhyut Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Max Granito Private Limited (Corporate Debtor) for an outstanding amount of Rs. 64,51,107, comprising principal and late payment surcharge. The Operational Creditor supplied electricity to the Corporate Debtor based on an agreement dated 31.03.2015, but the Corporate Debtor allegedly failed to pay the outstanding amount despite repeated requests. The Corporate Debtor contended that there was no amount due, the claim was barred by limitation, and excess payment was made.
Bhadreshwar Vidyut Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Max Granito Private Limited (Corporate Debtor). The application was filed on 15.11.2019. The Operational Creditor claimed an outstanding amount of Rs. 64,51,107, including principal (Rs. 23,73,190) and late payment surcharge (Rs. 40,77,917). An agreement dated 31.03.2015 was executed between the parties for the supply of 1.09 MW electricity. The Operational Creditor supplied electricity from April to June 2015 and raised invoices. The Corporate Debtor made payments on an ad hoc basis, leaving the claimed amount outstanding. The Operational Creditor issued a demand
…Agreement executed between Bhadreshwar Vidyut…
Bhadreshwar Vidyut Private Limited supplied…