The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Gupta Coal India Private Limited (Operational Creditor) against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid debt. The Operational Creditor claimed a total debt of Rs. 30,98,28,851/- with the date of default being 04.02.2016. The Operational Creditor had supplied coal to the Corporate Debtor and raised invoices, which remained unpaid despite the Corporate Debtor utilizing the goods without demur or protest. The Corporate Debtor failed to respond to a demand notice issued by the Operational Creditor.
Gupta Coal India Private Limited (Operational Creditor) filed a Company Petition against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a debt of Rs. 30,98,28,851/-, with the date of default being 04.02.2016. The Corporate Debtor is incorporated under the Companies Act, 2013. The Operational Creditor had supplied Imported & Domestic Coal to the Corporate Debtor and raised several invoices aggregating to Rs. 20,25,28,991/-. The invoices specified that payment was due within 30 days, with a late charge of 24% per annum on unpaid amounts. The Corporate Debtor utilized the goods without
…Sign in to view the parties.
The date on which the Corporate Debtor…
Company Petition No. 31/IBC/MB/2017 was…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Gupta Coal India Private Limited (Operational Creditor) against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid debt. The Operational Creditor claimed a total debt of Rs. 30,98,28,851/- with the date of default being 04.02.2016. The Operational Creditor had supplied coal to the Corporate Debtor and raised invoices, which remained unpaid despite the Corporate Debtor utilizing the goods without demur or protest. The Corporate Debtor failed to respond to a demand notice issued by the Operational Creditor.
Gupta Coal India Private Limited (Operational Creditor) filed a Company Petition against Nyles Sales & Infraprojects Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a debt of Rs. 30,98,28,851/-, with the date of default being 04.02.2016. The Corporate Debtor is incorporated under the Companies Act, 2013. The Operational Creditor had supplied Imported & Domestic Coal to the Corporate Debtor and raised several invoices aggregating to Rs. 20,25,28,991/-. The invoices specified that payment was due within 30 days, with a late charge of 24% per annum on unpaid amounts. The Corporate Debtor utilized the goods without
…The date on which the Corporate Debtor…
Company Petition No. 31/IBC/MB/2017 was…