The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by Rishabh TriExim LLP, the Operational Creditor (OC), to initiate Corporate Insolvency Resolution Process (CIRP) against Nandi Irrigation Systems Limited, the Corporate Debtor (CD). The OC claims that the CD defaulted on a debt of Rs 11,32,41,629, due as of 30.11.2022, with an additional claim of Rs 46,66,605 as interest. The debt arose from the supply of PVC Resin between 01.04.2022 and 19.11.2022, totaling Rs 45,91,09,759. Including an opening balance, the total payable amount was Rs 578,266,506, of which Rs 46,50,24,877 was paid, leaving the outstanding balance. The CD acknowledged the debt in a WhatsApp message dated 28.10.2022. A meeting was held on 13.10.2022 to
…Rishabh TriExim LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Nandi Irrigation Systems Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs 11,32,41,629, which was due as of 30.11.2022, with an additional claim of Rs 46,66,605 as interest. The debt arose from the supply of PVC Resin between 01.04.2022 and 19.11.2022, totaling Rs 45,91,09,759. Including an opening balance of Rs 11,91,56,747, the total payable amount was Rs 578,266,506, of which Rs 46,50,24,877 was paid, leaving the outstanding balance. The Corporate Debtor acknowledged the debt in a WhatsApp message dated 28.10.2022.
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Corporate Debtor…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) by Rishabh TriExim LLP, the Operational Creditor (OC), to initiate Corporate Insolvency Resolution Process (CIRP) against Nandi Irrigation Systems Limited, the Corporate Debtor (CD). The OC claims that the CD defaulted on a debt of Rs 11,32,41,629, due as of 30.11.2022, with an additional claim of Rs 46,66,605 as interest. The debt arose from the supply of PVC Resin between 01.04.2022 and 19.11.2022, totaling Rs 45,91,09,759. Including an opening balance, the total payable amount was Rs 578,266,506, of which Rs 46,50,24,877 was paid, leaving the outstanding balance. The CD acknowledged the debt in a WhatsApp message dated 28.10.2022. A meeting was held on 13.10.2022 to
…Rishabh TriExim LLP (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Nandi Irrigation Systems Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs 11,32,41,629, which was due as of 30.11.2022, with an additional claim of Rs 46,66,605 as interest. The debt arose from the supply of PVC Resin between 01.04.2022 and 19.11.2022, totaling Rs 45,91,09,759. Including an opening balance of Rs 11,91,56,747, the total payable amount was Rs 578,266,506, of which Rs 46,50,24,877 was paid, leaving the outstanding balance. The Corporate Debtor acknowledged the debt in a WhatsApp message dated 28.10.2022.
…Corporate Debtor…
A meeting was…