The case involves a Company Petition filed by Classic RMC & Aggregates India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Salasar Exteriors and Contour Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs.17,67,891/- comprising principal and interest for the supply of ready-mix concrete and pumping services in 2014-2015. The Corporate Debtor acknowledged the invoices but alleged discrepancies in rates compared to the purchase order, claiming a pre-existing dispute.
Classic RMC & Aggregates India Private Limited (Operational Creditor) filed a petition against Salasar Exteriors and Contour Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 17,67,891, which included the principal amount of Rs. 9,85,714 and interest of Rs. 7,82,177 at 18% p.a. The Operational Creditor supplied ready-mix concrete and pumping services to the Corporate Debtor in 2014-2015. The Corporate Debtor made part payments but failed to pay the outstanding balance. Cheques issued by the Corporate Debtor were dishonored. The Operational Creditor issued a legal demand notice under Section 138 of the Negotiable Instruments Act,
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The Operational Creditor supplied ready-mix…
The Corporate Debtor issued cheques dated…
The case involves a Company Petition filed by Classic RMC & Aggregates India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Salasar Exteriors and Contour Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs.17,67,891/- comprising principal and interest for the supply of ready-mix concrete and pumping services in 2014-2015. The Corporate Debtor acknowledged the invoices but alleged discrepancies in rates compared to the purchase order, claiming a pre-existing dispute.
Classic RMC & Aggregates India Private Limited (Operational Creditor) filed a petition against Salasar Exteriors and Contour Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 17,67,891, which included the principal amount of Rs. 9,85,714 and interest of Rs. 7,82,177 at 18% p.a. The Operational Creditor supplied ready-mix concrete and pumping services to the Corporate Debtor in 2014-2015. The Corporate Debtor made part payments but failed to pay the outstanding balance. Cheques issued by the Corporate Debtor were dishonored. The Operational Creditor issued a legal demand notice under Section 138 of the Negotiable Instruments Act,
…The Operational Creditor supplied ready-mix…
The Corporate Debtor issued cheques dated…