This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by SS Legacy Engineers Private Limited ("Operational Creditor") against MBE Coal & Mineral Technology India Private Limited ("Corporate Debtor"). The Operational Creditor seeks to initiate Corporate Insolvency Resolution Process ("CIRP") against the Corporate Debtor due to unpaid operational debt.
SS Legacy Engineers Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against MBE Coal & Mineral Technology India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,08,94,132/- along with interest @ 18% per annum from 25.12.2021. The Corporate Debtor had placed two purchase orders with the Operational Creditor, who fulfilled them and raised invoices. Despite receiving services, the Corporate Debtor only paid a portion of the amount, leaving a balance of Rs. 1,08,94,132/-. The Operational Creditor issued a demand notice, but the Corporate Debtor did not respond. The Corporate
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Corporate Debtor placed…
Corporate Debtor placed…
This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by SS Legacy Engineers Private Limited ("Operational Creditor") against MBE Coal & Mineral Technology India Private Limited ("Corporate Debtor"). The Operational Creditor seeks to initiate Corporate Insolvency Resolution Process ("CIRP") against the Corporate Debtor due to unpaid operational debt.
SS Legacy Engineers Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against MBE Coal & Mineral Technology India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 1,08,94,132/- along with interest @ 18% per annum from 25.12.2021. The Corporate Debtor had placed two purchase orders with the Operational Creditor, who fulfilled them and raised invoices. Despite receiving services, the Corporate Debtor only paid a portion of the amount, leaving a balance of Rs. 1,08,94,132/-. The Operational Creditor issued a demand notice, but the Corporate Debtor did not respond. The Corporate
…Corporate Debtor placed…
Corporate Debtor placed…