Sarda Pipes and Fitting Private Limited, the Operational Creditor, initiated a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SFS Fire and Security Private Limited, the Corporate Debtor, for defaulting on payments for supplied pipes and fittings materials. The Operational Creditor claimed that invoices for goods purchased by the Corporate Debtor were not honored, leading to a default on the operational debt. The total debt defaulted was Rs. 1,80,22,500/-, including principal and interest. The Operational Creditor served a demand notice on 24.01.2020, requesting repayment within 10 days, but received no response. The Adjudicating Authority directed service of notice through publication after initial attempts via speed post and email failed.
Sarda Pipes and Fitting Private Limited (Operational Creditor) supplied pipes and fittings to SFS Fire and Security Private Limited (Corporate Debtor) between 28.02.2018 and 31.03.2018. The Corporate Debtor failed to honor invoices raised for these goods, resulting in a total outstanding debt of Rs. 1,80,22,500/-, including a principal amount of Rs. 1,53,40,950/- and interest of Rs. 26,81,550/-. The default in payment occurred from 28.02.2018. The Operational Creditor served a demand notice on 24.01.2020, which was received by the Corporate Debtor on 27.01.2020, but no payment or reply was received. The Operational Creditor attempted to serve notice through speed post and email, but these attempts were unsuccessful. The Corporate Debtor had a business relationship with
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The Corporate Debtor started defaulting on…
The period during which Sarda Pipes and…
Sarda Pipes and Fitting Private Limited, the Operational Creditor, initiated a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SFS Fire and Security Private Limited, the Corporate Debtor, for defaulting on payments for supplied pipes and fittings materials. The Operational Creditor claimed that invoices for goods purchased by the Corporate Debtor were not honored, leading to a default on the operational debt. The total debt defaulted was Rs. 1,80,22,500/-, including principal and interest. The Operational Creditor served a demand notice on 24.01.2020, requesting repayment within 10 days, but received no response. The Adjudicating Authority directed service of notice through publication after initial attempts via speed post and email failed.
Sarda Pipes and Fitting Private Limited (Operational Creditor) supplied pipes and fittings to SFS Fire and Security Private Limited (Corporate Debtor) between 28.02.2018 and 31.03.2018. The Corporate Debtor failed to honor invoices raised for these goods, resulting in a total outstanding debt of Rs. 1,80,22,500/-, including a principal amount of Rs. 1,53,40,950/- and interest of Rs. 26,81,550/-. The default in payment occurred from 28.02.2018. The Operational Creditor served a demand notice on 24.01.2020, which was received by the Corporate Debtor on 27.01.2020, but no payment or reply was received. The Operational Creditor attempted to serve notice through speed post and email, but these attempts were unsuccessful. The Corporate Debtor had a business relationship with
…The Corporate Debtor started defaulting on…
The period during which Sarda Pipes and…