The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s Somal Pipes Private Ltd. (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s RPK Steels Rolling Mills Pvt. Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of goods during the period from 31.12.2017 to 09.02.2018, amounting to Rs. 1,88,320/-. The petitioner claimed a total default of Rs. 2,57,995/- including interest as of 29.07.2019.
M/s Somal Pipes Private Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s RPK Steels Rolling Mills Pvt. Ltd. (Corporate Debtor). The Corporate Debtor was a regular purchaser of goods from the Operational Creditor and had a running account. The Operational Creditor supplied goods to the Corporate Debtor, and invoices were raised. Payments were to be adjusted against the first outstanding invoices. The Corporate Debtor failed to make payments for supplies made between 31.12.2017 and 09.02.2018, amounting to Rs. 1,88,320/-. The total amount claimed to be in default was Rs. 2,57,995/- including interest as of 29.07.2019. A demand notice dated
…Sign in to view the parties.
The corporate debtor failed to make payments…
The last sale took…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s Somal Pipes Private Ltd. (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s RPK Steels Rolling Mills Pvt. Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of goods during the period from 31.12.2017 to 09.02.2018, amounting to Rs. 1,88,320/-. The petitioner claimed a total default of Rs. 2,57,995/- including interest as of 29.07.2019.
M/s Somal Pipes Private Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s RPK Steels Rolling Mills Pvt. Ltd. (Corporate Debtor). The Corporate Debtor was a regular purchaser of goods from the Operational Creditor and had a running account. The Operational Creditor supplied goods to the Corporate Debtor, and invoices were raised. Payments were to be adjusted against the first outstanding invoices. The Corporate Debtor failed to make payments for supplies made between 31.12.2017 and 09.02.2018, amounting to Rs. 1,88,320/-. The total amount claimed to be in default was Rs. 2,57,995/- including interest as of 29.07.2019. A demand notice dated
…The corporate debtor failed to make payments…
The last sale took…