Bajrang Steelmet Trading Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ramkrishna Engineering Private Limited, the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The petition was based on a default of Rs. 80,99,665, inclusive of interest, stemming from unpaid invoices dating back to July 2013. The Corporate Debtor denied the debt and claimed the application was barred by limitation.
Bajrang Steelmet Trading Private Limited (Operational Creditor) filed a petition against Ramkrishna Engineering Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 80,99,665, including interest, based on invoices issued in July 2013. The Corporate Debtor initially operated as a proprietorship concern before being assigned to the Corporate Debtor. The Operational Creditor supplied iron and steel products to the Corporate Debtor based on verbal orders, raising invoices after successful supply. The Corporate Debtor acknowledged the balance confirmation via email on 24 May 2016 and 03 June 2016. The Operational Creditor issued a demand notice on 04 April 2019, which was not
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Operational Creditor…
Corporate Debtor…
Bajrang Steelmet Trading Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ramkrishna Engineering Private Limited, the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The petition was based on a default of Rs. 80,99,665, inclusive of interest, stemming from unpaid invoices dating back to July 2013. The Corporate Debtor denied the debt and claimed the application was barred by limitation.
Bajrang Steelmet Trading Private Limited (Operational Creditor) filed a petition against Ramkrishna Engineering Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 80,99,665, including interest, based on invoices issued in July 2013. The Corporate Debtor initially operated as a proprietorship concern before being assigned to the Corporate Debtor. The Operational Creditor supplied iron and steel products to the Corporate Debtor based on verbal orders, raising invoices after successful supply. The Corporate Debtor acknowledged the balance confirmation via email on 24 May 2016 and 03 June 2016. The Operational Creditor issued a demand notice on 04 April 2019, which was not
…Operational Creditor…
Corporate Debtor…