V. Singhi & Associates, an Operational Creditor, filed a Company Petition under Section 9 of the IBC, 2016, seeking to initiate CIRP against Pallavi Dealers Private Limited, the Corporate Debtor. The claim was for Rs. 2,70,550/- due for services rendered between October 1, 2016, and January 31, 2018. The date of default was specified as January 16, 2018. The Corporate Debtor admitted to availing the services but cited poor financial condition as the reason for non-payment. The Operational Creditor had issued invoices and a demand letter, but the Corporate Debtor failed to respond or make payments. The Corporate Debtor was involved in trading scrap of mixed metals and faced various civil and criminal cases, leading to its loss-making status. The NCLT found that the

V. Singhi & Associates, an Operational Creditor, filed a Company Petition under Section 9 of the IBC, 2016, seeking to initiate CIRP against Pallavi Dealers Private Limited, the Corporate Debtor. The claim was for Rs. 2,70,550/- due for services rendered between October 1, 2016, and January 31, 2018. The date of default was specified as January 16, 2018. The Corporate Debtor admitted to availing the services but cited poor financial condition as the reason for non-payment. The Operational Creditor had issued invoices and a demand letter, but the Corporate Debtor failed to respond or make payments. The Corporate Debtor was involved in trading scrap of mixed metals and faced various civil and criminal cases, leading to its loss-making status. The NCLT found that the