The case involves an application filed by M/s Swastik Pipe Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Strolar Mounting Systems Private Limited, the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for Module Mounting Structure supplied during the period of 02.01.2018 to 15.01.2018, with outstanding invoices amounting to Rs. 34,27,620.60/-, with the date of default being 01.03.2019. The Corporate Debtor contested the application, citing a pre-existing dispute regarding deficiency of services.
M/s Swastik Pipe Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Strolar Mounting Systems Private Limited (Corporate Debtor). The Operational Creditor claimed that it supplied Module Mounting Structure to the Corporate Debtor between 02.01.2018 and 15.01.2018, raising invoices totaling Rs. 51,96,280/-. While the Corporate Debtor made some payments until 12.06.2018, it subsequently defaulted, leaving an outstanding debt of Rs. 34,27,620.60/-. The Operational Creditor issued a demand notice dated 06.06.2019, which was received by the Corporate Debtor on 11.06.2019. The Corporate Debtor replied on 21.06.2019, raising objections. The
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The case involves an application filed by M/s Swastik Pipe Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Strolar Mounting Systems Private Limited, the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for Module Mounting Structure supplied during the period of 02.01.2018 to 15.01.2018, with outstanding invoices amounting to Rs. 34,27,620.60/-, with the date of default being 01.03.2019. The Corporate Debtor contested the application, citing a pre-existing dispute regarding deficiency of services.
M/s Swastik Pipe Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Strolar Mounting Systems Private Limited (Corporate Debtor). The Operational Creditor claimed that it supplied Module Mounting Structure to the Corporate Debtor between 02.01.2018 and 15.01.2018, raising invoices totaling Rs. 51,96,280/-. While the Corporate Debtor made some payments until 12.06.2018, it subsequently defaulted, leaving an outstanding debt of Rs. 34,27,620.60/-. The Operational Creditor issued a demand notice dated 06.06.2019, which was received by the Corporate Debtor on 11.06.2019. The Corporate Debtor replied on 21.06.2019, raising objections. The
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