The case involves an application filed by Deceuninck Profiles India Private Limited, the Operational Creditor, against Oriel Windows Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default in payment for the supply of UPVC profiles. The Corporate Debtor did not raise any dispute regarding the quality or quantity of the goods supplied but failed to pay the Operational Creditor. The Operational Creditor issued a demand notice, but the Corporate Debtor neither replied nor repaid the amount.
Deceuninck Profiles India Private Limited (Operational Creditor) filed an application under Section 9 of the I&B Code against Oriel Windows Private Limited (Corporate Debtor) due to unpaid dues for the supply of UPVC profiles. The Operational Creditor claimed Rs. 2,25,99,284/- as the principal outstanding amount plus 18% interest from 28/02/2019. The date of default was 28/02/2019. The Operational Creditor supplied UPVC profiles to the Corporate Debtor as per their requirements, raising 40 invoices between 23.10.2018 and 03.09.2021. The Corporate Debtor issued a cheque of Rs. 17,00,000/- dated 08.08.2020, which was returned unpaid. The Corporate Debtor offered to mortgage property, leading to an MOU dated 31.07.2021, but failed to honor the MOU terms. A cheque of
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The case involves an application filed by Deceuninck Profiles India Private Limited, the Operational Creditor, against Oriel Windows Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default in payment for the supply of UPVC profiles. The Corporate Debtor did not raise any dispute regarding the quality or quantity of the goods supplied but failed to pay the Operational Creditor. The Operational Creditor issued a demand notice, but the Corporate Debtor neither replied nor repaid the amount.
Deceuninck Profiles India Private Limited (Operational Creditor) filed an application under Section 9 of the I&B Code against Oriel Windows Private Limited (Corporate Debtor) due to unpaid dues for the supply of UPVC profiles. The Operational Creditor claimed Rs. 2,25,99,284/- as the principal outstanding amount plus 18% interest from 28/02/2019. The date of default was 28/02/2019. The Operational Creditor supplied UPVC profiles to the Corporate Debtor as per their requirements, raising 40 invoices between 23.10.2018 and 03.09.2021. The Corporate Debtor issued a cheque of Rs. 17,00,000/- dated 08.08.2020, which was returned unpaid. The Corporate Debtor offered to mortgage property, leading to an MOU dated 31.07.2021, but failed to honor the MOU terms. A cheque of
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