The case involves an application filed by Ashok Leyland Limited, the Operational Creditor, against Windals Auto Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 11,43,30,069/-, including principal and interest, with the first date of default mentioned as 10.03.2017. The Corporate Debtor was admitted into CIRP in another petition, leading to the initial dismissal of the present case. However, the CIRP in the other petition was withdrawn, and the present petition was restored.
Ashok Leyland Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Windals Auto Private Limited (Corporate Debtor) for initiating CIRP. The total claim amounted to Rs. 11,43,30,069/-, comprising a principal of Rs. 7,77,23,706/- and interest of Rs. 3,66,06,363/- as of 20.01.2020. The initial default date was 10.03.2017. Ashok Leyland supplied steel to Windals Auto for manufacturing tipper bodies. A Letter of Intent was issued on 25.01.2013. Windals Auto requested an advance of Rs. 3 crores on 02.09.2015. An agreement was entered into on 27.06.2017 for the supply of tipper bodies. The supply of steel was stopped in August 2017 due to outstanding amounts. A corporate guarantee was provided on 18.08.2017.
…Sign in to view the parties.
The Operational Creditor initially issued a…
The Corporate Debtor sent an email to the…
The case involves an application filed by Ashok Leyland Limited, the Operational Creditor, against Windals Auto Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 11,43,30,069/-, including principal and interest, with the first date of default mentioned as 10.03.2017. The Corporate Debtor was admitted into CIRP in another petition, leading to the initial dismissal of the present case. However, the CIRP in the other petition was withdrawn, and the present petition was restored.
Ashok Leyland Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Windals Auto Private Limited (Corporate Debtor) for initiating CIRP. The total claim amounted to Rs. 11,43,30,069/-, comprising a principal of Rs. 7,77,23,706/- and interest of Rs. 3,66,06,363/- as of 20.01.2020. The initial default date was 10.03.2017. Ashok Leyland supplied steel to Windals Auto for manufacturing tipper bodies. A Letter of Intent was issued on 25.01.2013. Windals Auto requested an advance of Rs. 3 crores on 02.09.2015. An agreement was entered into on 27.06.2017 for the supply of tipper bodies. The supply of steel was stopped in August 2017 due to outstanding amounts. A corporate guarantee was provided on 18.08.2017.
…The Operational Creditor initially issued a…
The Corporate Debtor sent an email to the…