The case involves an application filed by Ashtech Buildpro India Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sun Ganga Construction Co. Pvt. Ltd. (Corporate Debtor). The application is based on the alleged default in clearing a debt of Rs. 7,51,844/-, including 21% interest annually. The Operational Creditor claimed that the Corporate Debtor placed an order on 01.06.2016 for the supply of Autoclaved Aerated Concrete (AAC) Blocks. The Operational Creditor commenced supplying MC Blocks and receiving payments from 14.05.2016 onwards. Invoices were raised on a monthly basis. Between 22.11.2016 and 05.02.2017, invoices aggregated to Rs.
…Ashtech Buildpro India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sun Ganga Construction Co. Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 7,51,844/-, including 21% annual interest. The debt arose from an order placed by the Corporate Debtor on 01.06.2016 for the supply of Autoclaved Aerated Concrete (AAC) Blocks. The Operational Creditor supplied MC Blocks and received payments from 14.05.2016. Between 22.11.2016 and 05.02.2017, invoices totaled Rs. 5,03,306/-. The Corporate Debtor made ad-hoc payments until 04.02.2017, after which no payments were made,
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Sun Ganga Construction Co. Pvt. Ltd. placed an…
Ashtech Buildpro India Private Limited…
The case involves an application filed by Ashtech Buildpro India Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sun Ganga Construction Co. Pvt. Ltd. (Corporate Debtor). The application is based on the alleged default in clearing a debt of Rs. 7,51,844/-, including 21% interest annually. The Operational Creditor claimed that the Corporate Debtor placed an order on 01.06.2016 for the supply of Autoclaved Aerated Concrete (AAC) Blocks. The Operational Creditor commenced supplying MC Blocks and receiving payments from 14.05.2016 onwards. Invoices were raised on a monthly basis. Between 22.11.2016 and 05.02.2017, invoices aggregated to Rs.
…Ashtech Buildpro India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sun Ganga Construction Co. Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 7,51,844/-, including 21% annual interest. The debt arose from an order placed by the Corporate Debtor on 01.06.2016 for the supply of Autoclaved Aerated Concrete (AAC) Blocks. The Operational Creditor supplied MC Blocks and received payments from 14.05.2016. Between 22.11.2016 and 05.02.2017, invoices totaled Rs. 5,03,306/-. The Corporate Debtor made ad-hoc payments until 04.02.2017, after which no payments were made,
…Sun Ganga Construction Co. Pvt. Ltd. placed an…
Ashtech Buildpro India Private Limited…