Esdec India Solar Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Swikriti Renewables Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services. The Operational Creditor raised invoices for the supply of raw materials, but the Corporate Debtor failed to make payments. A Demand Notice was issued, but the Corporate Debtor neither responded nor made any payments, leading to the application before the Tribunal.
Esdec India Solar Private Limited (Operational Creditor) filed an application against Swikriti Renewables Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services, including inventory management, administration, and supply chain management. The Operational Creditor raised two invoices: MH2021-22/0002 dated 24.02.2022 for Rs.61,89,138.96/- and MH2021-22/0003 dated 31.03.2022 for Rs.1,15,69,367.42/-, totaling Rs.1,88,72,551/- (inclusive of GST). The Corporate Debtor failed to make payments within 180 days of the invoice dates. A Demand Notice was issued on 28.10.2022,
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Operational Creditor…
Operational Creditor…
Esdec India Solar Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Swikriti Renewables Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services. The Operational Creditor raised invoices for the supply of raw materials, but the Corporate Debtor failed to make payments. A Demand Notice was issued, but the Corporate Debtor neither responded nor made any payments, leading to the application before the Tribunal.
Esdec India Solar Private Limited (Operational Creditor) filed an application against Swikriti Renewables Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor and Corporate Debtor entered into a Services Agreement dated 01.03.2022, where the Corporate Debtor was to provide business support services, including inventory management, administration, and supply chain management. The Operational Creditor raised two invoices: MH2021-22/0002 dated 24.02.2022 for Rs.61,89,138.96/- and MH2021-22/0003 dated 31.03.2022 for Rs.1,15,69,367.42/-, totaling Rs.1,88,72,551/- (inclusive of GST). The Corporate Debtor failed to make payments within 180 days of the invoice dates. A Demand Notice was issued on 28.10.2022,
…Operational Creditor…
Operational Creditor…