The case involves an application filed by Sanjay Kumar Agarwal, Sole Proprietor of S.K. Earthmovers (Operational Creditor), against Simplex Infrastructures Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor had engaged them for hiring construction machineries and equipment on a monthly rent basis, and payments for the invoices raised were irregular and partly paid. The Operational Creditor issued a demand notice under Section 8 of the IBC, which was replied to by the Corporate Debtor denying the payment.
Sanjay Kumar Agarwal, operating as S.K. Earthmovers, filed an application against Simplex Infrastructures Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. S.K. Earthmovers, the Operational Creditor, provided construction machinery and equipment to Simplex Infrastructures, the Corporate Debtor, on a rental basis. Invoices were issued for these services, but payments were allegedly irregular and partially made. The Operational Creditor claimed a total outstanding amount of Rs. 5.96 crores, including Rs. 3.68 crores in interest. A demand notice was issued under Section 8 of the IBC, which the Corporate Debtor replied to, denying the payment. The Corporate Debtor argued that some claims were time-barred and covered under Section 10(A) of the IBC. The
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The case involves an application filed by Sanjay Kumar Agarwal, Sole Proprietor of S.K. Earthmovers (Operational Creditor), against Simplex Infrastructures Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor had engaged them for hiring construction machineries and equipment on a monthly rent basis, and payments for the invoices raised were irregular and partly paid. The Operational Creditor issued a demand notice under Section 8 of the IBC, which was replied to by the Corporate Debtor denying the payment.
Sanjay Kumar Agarwal, operating as S.K. Earthmovers, filed an application against Simplex Infrastructures Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. S.K. Earthmovers, the Operational Creditor, provided construction machinery and equipment to Simplex Infrastructures, the Corporate Debtor, on a rental basis. Invoices were issued for these services, but payments were allegedly irregular and partially made. The Operational Creditor claimed a total outstanding amount of Rs. 5.96 crores, including Rs. 3.68 crores in interest. A demand notice was issued under Section 8 of the IBC, which the Corporate Debtor replied to, denying the payment. The Corporate Debtor argued that some claims were time-barred and covered under Section 10(A) of the IBC. The
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Order pronoun…