The case involves a petition filed by Deep Star Alloys & Steel Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Navmi Steel Traders Pvt. Ltd. (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor owes them Rs. 9,79,73,994/- including GST against invoices raised for various purchase orders. The last tax invoice fell due on 16.04.2018, and the last payment was received on 22.09.2020. The Corporate Debtor failed to settle the outstanding payment despite approaches and part payment options provided by the Operational Creditor. A demand notice was issued on 17.10.2023, and served on 21.10.2023 after an initial attempt was
…Deep Star Alloys & Steel Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Navmi Steel Traders Pvt. Ltd. (Corporate Debtor). The Corporate Debtor was incorporated on 16.07.2002. The Operational Creditor claimed that the Corporate Debtor owed Rs. 9,79,73,994/- including GST, based on 23 invoices raised for various purchase orders. The last tax invoice was issued on 16.04.2018, and the last payment was received on 22.09.2020. The Operational Creditor had approached the Corporate Debtor multiple times for settlement, even offering part payment options. A demand notice was issued on 17.10.2023 and served on 21.10.2023. The Corporate
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Navmi Steel Traders…
The last tax invoice…
The case involves a petition filed by Deep Star Alloys & Steel Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Navmi Steel Traders Pvt. Ltd. (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor owes them Rs. 9,79,73,994/- including GST against invoices raised for various purchase orders. The last tax invoice fell due on 16.04.2018, and the last payment was received on 22.09.2020. The Corporate Debtor failed to settle the outstanding payment despite approaches and part payment options provided by the Operational Creditor. A demand notice was issued on 17.10.2023, and served on 21.10.2023 after an initial attempt was
…Deep Star Alloys & Steel Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Navmi Steel Traders Pvt. Ltd. (Corporate Debtor). The Corporate Debtor was incorporated on 16.07.2002. The Operational Creditor claimed that the Corporate Debtor owed Rs. 9,79,73,994/- including GST, based on 23 invoices raised for various purchase orders. The last tax invoice was issued on 16.04.2018, and the last payment was received on 22.09.2020. The Operational Creditor had approached the Corporate Debtor multiple times for settlement, even offering part payment options. A demand notice was issued on 17.10.2023 and served on 21.10.2023. The Corporate
…Navmi Steel Traders…
The last tax invoice…