The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Great Town Trading Private Limited (Operational Creditor) against Pravara Renewable Energy Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP) due to default in repaying a principal amount of ₹3,31,27,775 together with interest of ₹55,07,487, aggregating to ₹3,86,35,262 as on 26.07.2018. The Corporate Debtor placed an order for the supply of coal, and the Operational Creditor supplied the coal and raised four invoices. The Corporate Debtor defaulted on making payments despite receiving the goods without protest. The Corporate Debtor made part payments after the issuance of a demand notice but failed to pay the balance outstanding
…Great Town Trading Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Pravara Renewable Energy Limited (Corporate Debtor) for initiating CIRP. The Corporate Debtor defaulted in repaying a principal amount of ₹3,31,27,775 together with interest of ₹55,07,487, aggregating to ₹3,86,35,262 as on 26.07.2018. The Corporate Debtor placed an order for the supply of coal, and the Operational Creditor supplied the coal and raised four invoices totaling Rs. 4,00,01,980. The Corporate Debtor defaulted on making payments despite receiving the goods without protest. The Operational Creditor issued a Demand Notice dated 21.05.2018, which was received by the Corporate Debtor. The Corporate Debtor replied to
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Corporate Debtor placed…
Operational Creditor…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Great Town Trading Private Limited (Operational Creditor) against Pravara Renewable Energy Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP) due to default in repaying a principal amount of ₹3,31,27,775 together with interest of ₹55,07,487, aggregating to ₹3,86,35,262 as on 26.07.2018. The Corporate Debtor placed an order for the supply of coal, and the Operational Creditor supplied the coal and raised four invoices. The Corporate Debtor defaulted on making payments despite receiving the goods without protest. The Corporate Debtor made part payments after the issuance of a demand notice but failed to pay the balance outstanding
…Great Town Trading Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Pravara Renewable Energy Limited (Corporate Debtor) for initiating CIRP. The Corporate Debtor defaulted in repaying a principal amount of ₹3,31,27,775 together with interest of ₹55,07,487, aggregating to ₹3,86,35,262 as on 26.07.2018. The Corporate Debtor placed an order for the supply of coal, and the Operational Creditor supplied the coal and raised four invoices totaling Rs. 4,00,01,980. The Corporate Debtor defaulted on making payments despite receiving the goods without protest. The Operational Creditor issued a Demand Notice dated 21.05.2018, which was received by the Corporate Debtor. The Corporate Debtor replied to
…Corporate Debtor placed…
Operational Creditor…