The case involves an application filed by M/s. Bharat Steel Rolling Mills Unit-1 (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Revital Reality Private Limited (Corporate Debtor) for an alleged default of Rs. 2,09,30,316/-. The Operational Creditor claimed to have supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders from 2017 to 2021. The Corporate Debtor allegedly failed to clear the outstanding debt despite receiving the goods and invoices.
M/s. Bharat Steel Rolling Mills Unit-1, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against M/s. Revital Reality Private Limited, the Corporate Debtor. The Operational Creditor claimed that it supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders between 2017 and 2021. The total amount of goods supplied was Rs. 10,54,06,643/-, against which the Corporate Debtor made part payments of Rs. 8,58,17,545/-. The outstanding balance was Rs. 1,95,89,098/-, including principal and interest. The Operational Creditor issued a demand notice in Form-3 on 30.09.2021, which was received by the Corporate Debtor on 01.10.2021. The Corporate Debtor did not raise any
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The case involves an application filed by M/s. Bharat Steel Rolling Mills Unit-1 (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Revital Reality Private Limited (Corporate Debtor) for an alleged default of Rs. 2,09,30,316/-. The Operational Creditor claimed to have supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders from 2017 to 2021. The Corporate Debtor allegedly failed to clear the outstanding debt despite receiving the goods and invoices.
M/s. Bharat Steel Rolling Mills Unit-1, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against M/s. Revital Reality Private Limited, the Corporate Debtor. The Operational Creditor claimed that it supplied T.M.T & Structural Steel to the Corporate Debtor based on verbal orders between 2017 and 2021. The total amount of goods supplied was Rs. 10,54,06,643/-, against which the Corporate Debtor made part payments of Rs. 8,58,17,545/-. The outstanding balance was Rs. 1,95,89,098/-, including principal and interest. The Operational Creditor issued a demand notice in Form-3 on 30.09.2021, which was received by the Corporate Debtor on 01.10.2021. The Corporate Debtor did not raise any
…Corporate Debtor placed…
Operational Creditor…