The case originates from a petition filed by Megamet Steels Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Bituchem India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for invoices raised for bituchem supplies. The Corporate Debtor, however, contested the claim, alleging that some of the invoices were fabricated and that there was a pre-existing dispute.
Megamet Steels Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Bituchem India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for five invoices totaling Rs. 35,26,597/-, including interest at 24% p.a. The invoices were raised for bituchem supplies provided by the Operational Creditor to the Corporate Debtor since 2017. The Corporate Debtor made a part payment of Rs. 97,438/-. The Operational Creditor served a demand notice on 13.04.2018. The Corporate Debtor contended that four of the five invoices were never generated or associated with the receipt of goods and that one
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Supreme Bituchem India…
The Operational Creditor consistently provided…
The case originates from a petition filed by Megamet Steels Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Bituchem India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for invoices raised for bituchem supplies. The Corporate Debtor, however, contested the claim, alleging that some of the invoices were fabricated and that there was a pre-existing dispute.
Megamet Steels Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Bituchem India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for five invoices totaling Rs. 35,26,597/-, including interest at 24% p.a. The invoices were raised for bituchem supplies provided by the Operational Creditor to the Corporate Debtor since 2017. The Corporate Debtor made a part payment of Rs. 97,438/-. The Operational Creditor served a demand notice on 13.04.2018. The Corporate Debtor contended that four of the five invoices were never generated or associated with the receipt of goods and that one
…Supreme Bituchem India…
The Operational Creditor consistently provided…