The case involves a petition filed by M/s Carbon Fuels, the Operational Creditor, against Sri Raghavendra Ferro Alloys Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 1,99,10,943. The Operational Creditor sought the commencement of Corporate Insolvency Resolution Process (CIRP), a moratorium, and the appointment of an Interim Resolution Professional (IRP).
M/s Carbon Fuels, an operational creditor, filed a petition against Sri Raghavendra Ferro Alloys Private Limited, a corporate debtor, claiming a default of Rs. 1,99,10,943. The operational creditor supplied steam coal to the corporate debtor based on purchase orders issued between 21.01.2022 and 17.05.2022, totaling Rs. 6,49,10,943. The corporate debtor made partial payments of Rs. 4,50,00,000, leaving the outstanding balance. The corporate debtor acknowledged the outstanding amount in an email dated 08.06.2022. The operational creditor sent a demand notice on 28.12.2022, which was served on 30.12.2022, but received no response. The corporate debtor was absent during the hearing, leading to an ex-parte order. The operational creditor is entitled to 12% interest on
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Operational creditor was…
Corporate Debtor issued purchase orders to…
The case involves a petition filed by M/s Carbon Fuels, the Operational Creditor, against Sri Raghavendra Ferro Alloys Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 1,99,10,943. The Operational Creditor sought the commencement of Corporate Insolvency Resolution Process (CIRP), a moratorium, and the appointment of an Interim Resolution Professional (IRP).
M/s Carbon Fuels, an operational creditor, filed a petition against Sri Raghavendra Ferro Alloys Private Limited, a corporate debtor, claiming a default of Rs. 1,99,10,943. The operational creditor supplied steam coal to the corporate debtor based on purchase orders issued between 21.01.2022 and 17.05.2022, totaling Rs. 6,49,10,943. The corporate debtor made partial payments of Rs. 4,50,00,000, leaving the outstanding balance. The corporate debtor acknowledged the outstanding amount in an email dated 08.06.2022. The operational creditor sent a demand notice on 28.12.2022, which was served on 30.12.2022, but received no response. The corporate debtor was absent during the hearing, leading to an ex-parte order. The operational creditor is entitled to 12% interest on
…Operational creditor was…
Corporate Debtor issued purchase orders to…