Mr. Rajesh Kumar Sharma, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 to initiate Corporate Insolvency Resolution Process (CIRP) against Guman Builders & Developers Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 8,62,484/-.
Mr. Rajesh Kumar Sharma, the Applicant, is the proprietor of M/s Sharma Art & Computer and is an Operational Creditor.
Guman Builders & Developers Private Limited, the Respondent, is a company incorporated under the Companies Act, 1956 and is engaged in the real estate business.
The Corporate Debtor defaulted on a payment of Rs. 8,62,484/- to the Operational Creditor for services provided.
The Operational Creditor served a statutory demand notice under section 8 of the Code to the Corporate Debtor on 22.11.2019.
The Corporate Debtor acknowledged its liability for the principal amount of Rs. 3,77,000/- but disputed the interest rate of 18% per annum.
The Enforcement Directorate had attached the properties of the Corporate Debtor due to ongoing proceedings.
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Operational Creditor served statutory demand…
The Applicati…
Mr. Rajesh Kumar Sharma, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 to initiate Corporate Insolvency Resolution Process (CIRP) against Guman Builders & Developers Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 8,62,484/-.
Mr. Rajesh Kumar Sharma, the Applicant, is the proprietor of M/s Sharma Art & Computer and is an Operational Creditor.
Guman Builders & Developers Private Limited, the Respondent, is a company incorporated under the Companies Act, 1956 and is engaged in the real estate business.
The Corporate Debtor defaulted on a payment of Rs. 8,62,484/- to the Operational Creditor for services provided.
The Operational Creditor served a statutory demand notice under section 8 of the Code to the Corporate Debtor on 22.11.2019.
The Corporate Debtor acknowledged its liability for the principal amount of Rs. 3,77,000/- but disputed the interest rate of 18% per annum.
The Enforcement Directorate had attached the properties of the Corporate Debtor due to ongoing proceedings.
…Operational Creditor served statutory demand…
The Applicati…