Cogent Engineers Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Goyal Proteins Limited, the Corporate Debtor.
Cogent Engineers Private Limited (Operational Creditor) filed an application to initiate CIRP against Goyal Proteins Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed a default amount of Rs. 1,16,00,306/- including interest at 18% per annum.
The Corporate Debtor argued that the application is barred by limitation, the debt is below the threshold limit, and all dues have been cleared.
The Corporate Debtor made direct payments to subcontractors with the approval of the Applicant.
The RP issued a demand notice dated 10.02.2020 under Section 8 of the Code.
The Committee of Creditors (CoC) resolved to initiate CIRP against the Corporate Debtor.
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The RP raised the…
The Committee of Creditors (‘CoC') has…
Cogent Engineers Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Goyal Proteins Limited, the Corporate Debtor.
Cogent Engineers Private Limited (Operational Creditor) filed an application to initiate CIRP against Goyal Proteins Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed a default amount of Rs. 1,16,00,306/- including interest at 18% per annum.
The Corporate Debtor argued that the application is barred by limitation, the debt is below the threshold limit, and all dues have been cleared.
The Corporate Debtor made direct payments to subcontractors with the approval of the Applicant.
The RP issued a demand notice dated 10.02.2020 under Section 8 of the Code.
The Committee of Creditors (CoC) resolved to initiate CIRP against the Corporate Debtor.
…The RP raised the…
The Committee of Creditors (‘CoC') has…