The case involves an application filed by M/s. Delhi Industrial Corporation, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited, the Corporate Debtor (CD). The OC claimed that the CD defaulted on payments for goods supplied, specifically Synthetic Rubber Chloroprene & EPDM, with outstanding invoices dating back to 30.06.2018. Despite repeated requests and a demand notice issued on 02.10.2021 under Section 8 of the IBC, the CD failed to make the payment. The OC annexed copies of unpaid invoices and the demand notice to its application.
M/s. Delhi Industrial Corporation (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited (Corporate Debtor). The Operational Creditor (OC) is engaged in manufacturing and trading rubber products. The OC supplied Synthetic Rubber Chloroprene & EPDM to the Corporate Debtor (CD) and issued invoices. The CD partially paid some invoices, but significant amounts remained unpaid since 30.06.2018. The OC sent a demand notice dated 02.10.2021 under Section 8 of the IBC for Rs.3,00,39,274/-. The CD did not reply to the demand notice. The OC filed the application under Section 9 of the IBC. The CD argued that
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Invoices from the Operational Creditor to the…
Resolution dated 01.10.2021 and authority…
The case involves an application filed by M/s. Delhi Industrial Corporation, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited, the Corporate Debtor (CD). The OC claimed that the CD defaulted on payments for goods supplied, specifically Synthetic Rubber Chloroprene & EPDM, with outstanding invoices dating back to 30.06.2018. Despite repeated requests and a demand notice issued on 02.10.2021 under Section 8 of the IBC, the CD failed to make the payment. The OC annexed copies of unpaid invoices and the demand notice to its application.
M/s. Delhi Industrial Corporation (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Auto Components (India) Private Limited (Corporate Debtor). The Operational Creditor (OC) is engaged in manufacturing and trading rubber products. The OC supplied Synthetic Rubber Chloroprene & EPDM to the Corporate Debtor (CD) and issued invoices. The CD partially paid some invoices, but significant amounts remained unpaid since 30.06.2018. The OC sent a demand notice dated 02.10.2021 under Section 8 of the IBC for Rs.3,00,39,274/-. The CD did not reply to the demand notice. The OC filed the application under Section 9 of the IBC. The CD argued that
…Invoices from the Operational Creditor to the…
Resolution dated 01.10.2021 and authority…