Naksh Steel Limited (Operational Creditor) filed a Section 9 IBC petition against Auri Grow India Limited (Corporate Debtor) for defaulting on an operational debt of Rs. 91,82,07,284/-, arising from a Master Supply Agreement for industrial and construction goods. The debt included a principal amount of Rs. 78,01,30,374/- and interest of Rs. 13,80,76,910/-. The Corporate Debtor acknowledged the principal debt but disputed the interest component, offering to pay the principal in staggered instalments.
Naksh Steel Limited (Operational Creditor) filed a Company Petition under Section 9 of the IBC against Auri Grow India Limited (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) due to an alleged default in payment of an operational debt.
The total operational debt claimed was Rs. 91,82,07,284/-, comprising a principal amount of Rs. 78,01,30,374/- and interest of Rs. 13,80,76,910/-.
Naksh Steel Limited is engaged in the business of steel manufacturing and trading of building material.
Auri Grow India Limited was previously known as Godha Cabcon & Insulation Limited.
On 16.12.2024, the parties entered into a Master Supply Agreement for the supply of industrial and construction goods/material.
…Sign in to view the parties.
Parties entered into a Master Supply Agreement…
Operational Creditor…
Naksh Steel Limited (Operational Creditor) filed a Section 9 IBC petition against Auri Grow India Limited (Corporate Debtor) for defaulting on an operational debt of Rs. 91,82,07,284/-, arising from a Master Supply Agreement for industrial and construction goods. The debt included a principal amount of Rs. 78,01,30,374/- and interest of Rs. 13,80,76,910/-. The Corporate Debtor acknowledged the principal debt but disputed the interest component, offering to pay the principal in staggered instalments.
Naksh Steel Limited (Operational Creditor) filed a Company Petition under Section 9 of the IBC against Auri Grow India Limited (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) due to an alleged default in payment of an operational debt.
The total operational debt claimed was Rs. 91,82,07,284/-, comprising a principal amount of Rs. 78,01,30,374/- and interest of Rs. 13,80,76,910/-.
Naksh Steel Limited is engaged in the business of steel manufacturing and trading of building material.
Auri Grow India Limited was previously known as Godha Cabcon & Insulation Limited.
On 16.12.2024, the parties entered into a Master Supply Agreement for the supply of industrial and construction goods/material.
…Parties entered into a Master Supply Agreement…
Operational Creditor…