This case involves an application filed by H.R. Corporation, the Operational Creditor (OC), against Samaypra Technosolution Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), for initiating the Corporate Insolvency Resolution Process (CIRP). The debt arises from the supply of goods (pipes) by the OC to the CD, for which tax invoices were raised. The initial application was withdrawn based on consent terms but was later restored due to the CD's failure to adhere to those terms, including the dishonoring of post-dated cheques.
H.R. Corporation (OC) supplied goods (pipes) to Samaypra Technosolution Private Limited (CD), raising tax invoices. The total amount due was Rs. 19,81,914, including principal and interest. The OC and CD initially agreed to consent terms, leading to the withdrawal of the initial application. However, the CD breached these terms, and the post-dated cheques issued were dishonored. The OC sent a demand notice, but the CD did not reply or provide proof of payment. The OC submitted a ledger account, a balance confirmation letter from the CD, and a bank certificate confirming non-payment. The CD did not file a reply to the restored application. The date of default was determined as 25.05.2018, the date the cheques were dishonored.
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H.R. Corporation filed…
The Application was dismissed as withdrawn…
This case involves an application filed by H.R. Corporation, the Operational Creditor (OC), against Samaypra Technosolution Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), for initiating the Corporate Insolvency Resolution Process (CIRP). The debt arises from the supply of goods (pipes) by the OC to the CD, for which tax invoices were raised. The initial application was withdrawn based on consent terms but was later restored due to the CD's failure to adhere to those terms, including the dishonoring of post-dated cheques.
H.R. Corporation (OC) supplied goods (pipes) to Samaypra Technosolution Private Limited (CD), raising tax invoices. The total amount due was Rs. 19,81,914, including principal and interest. The OC and CD initially agreed to consent terms, leading to the withdrawal of the initial application. However, the CD breached these terms, and the post-dated cheques issued were dishonored. The OC sent a demand notice, but the CD did not reply or provide proof of payment. The OC submitted a ledger account, a balance confirmation letter from the CD, and a bank certificate confirming non-payment. The CD did not file a reply to the restored application. The date of default was determined as 25.05.2018, the date the cheques were dishonored.
H.R. Corporation filed…
The Application was dismissed as withdrawn…