The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Kabir Impex, an operational creditor, against M/s Swati Cast & Forge Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for Labour Job Forging services provided since 2012. The corporate debtor acknowledged the debt in writing on 07.03.2017. A demand notice was issued on 29.08.2019. The corporate debtor admitted its liability and inability to pay the debt in its reply.
M/s Kabir Impex, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Swati Cast & Forge Pvt. Ltd., the corporate debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor provided Labour Job Forging services to the corporate debtor since 2012, raising invoices for the same. The corporate debtor acknowledged the debt through written communication on 07.03.2017. A demand notice in Form 3 was issued on 29.08.2019 and duly received by the corporate debtor. The corporate debtor admitted its liability and inability to pay the debt in its reply to the petition. The amount claimed to be in default was Rs.2,37,8812/-, including principal and interest. The petition
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M/s Swati Cast & Forge…
M/s Swati Cast & Forge Pvt. Ltd. receiving…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Kabir Impex, an operational creditor, against M/s Swati Cast & Forge Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for Labour Job Forging services provided since 2012. The corporate debtor acknowledged the debt in writing on 07.03.2017. A demand notice was issued on 29.08.2019. The corporate debtor admitted its liability and inability to pay the debt in its reply.
M/s Kabir Impex, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Swati Cast & Forge Pvt. Ltd., the corporate debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor provided Labour Job Forging services to the corporate debtor since 2012, raising invoices for the same. The corporate debtor acknowledged the debt through written communication on 07.03.2017. A demand notice in Form 3 was issued on 29.08.2019 and duly received by the corporate debtor. The corporate debtor admitted its liability and inability to pay the debt in its reply to the petition. The amount claimed to be in default was Rs.2,37,8812/-, including principal and interest. The petition
…M/s Swati Cast & Forge…
M/s Swati Cast & Forge Pvt. Ltd. receiving…