The case involves an application filed by Atul Auto Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Echo Motors and Automobiles Private Limited, the Corporate Debtor, due to non-payment of an operational debt.
Atul Auto Limited, the Operational Creditor, filed an application under Section 9 of the IBC to initiate CIRP against Echo Motors and Automobiles Private Limited, the Corporate Debtor.
The operational debt claimed was Rs. 3,35,36,330/-.
The Corporate Debtor was a dealer of the Operational Creditor.
A meeting was held on 18.02.2019 where the Director of the Corporate Debtor admitted liability of Rs. 4,13,36,999/-.
The Corporate Debtor made part payments of approximately Rs. 80 lakhs.
Cheques issued by the Corporate Debtor were dishonored.
The Corporate Debtor approached the Gauhati High Court by filing a Writ Petition seeking to quash criminal complaints related to the dishonored cheques.
…Sign in to view the parties.
The huge a…
Meeting of the…
The case involves an application filed by Atul Auto Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Echo Motors and Automobiles Private Limited, the Corporate Debtor, due to non-payment of an operational debt.
Atul Auto Limited, the Operational Creditor, filed an application under Section 9 of the IBC to initiate CIRP against Echo Motors and Automobiles Private Limited, the Corporate Debtor.
The operational debt claimed was Rs. 3,35,36,330/-.
The Corporate Debtor was a dealer of the Operational Creditor.
A meeting was held on 18.02.2019 where the Director of the Corporate Debtor admitted liability of Rs. 4,13,36,999/-.
The Corporate Debtor made part payments of approximately Rs. 80 lakhs.
Cheques issued by the Corporate Debtor were dishonored.
The Corporate Debtor approached the Gauhati High Court by filing a Writ Petition seeking to quash criminal complaints related to the dishonored cheques.
…The huge a…
Meeting of the…