Amit Enterprise, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Urvashi Material Trading Company Pvt. Ltd., the Corporate Debtor. The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) due to an alleged default of Rs. 1,07,07,595/-. The default arose from the Corporate Debtor's failure to supply customized marble tiles as per a purchase order dated 01.07.2015, despite receiving an advance payment of the full amount. The Operational Creditor issued a demand notice, to which the Corporate Debtor replied, admitting the debt but citing financial inability to pay.
Amit Enterprise (Petitioner/Operational Creditor) filed a petition under Section 9 of the IBC against Urvashi Material Trading Company Pvt. Ltd. (Respondent/Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) for an alleged default of Rs. 1,07,07,595/- as on 31.01.2025.
The Petitioner is engaged in the business of building material, marble tiles, and electrical items.
The Petitioner issued a Purchase Order dated 01.07.2015 to the Respondent for the supply of customized marble tiles, to be specifically manufactured and supplied before 31.12.2015.
The Petitioner made an advance payment of Rs. 1,07,07,595/- to the Respondent for the customized marble tiles.
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Petitioner (Amit Enterprise) issued a…
Deadline for the supply of customized…
Amit Enterprise, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Urvashi Material Trading Company Pvt. Ltd., the Corporate Debtor. The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) due to an alleged default of Rs. 1,07,07,595/-. The default arose from the Corporate Debtor's failure to supply customized marble tiles as per a purchase order dated 01.07.2015, despite receiving an advance payment of the full amount. The Operational Creditor issued a demand notice, to which the Corporate Debtor replied, admitting the debt but citing financial inability to pay.
Amit Enterprise (Petitioner/Operational Creditor) filed a petition under Section 9 of the IBC against Urvashi Material Trading Company Pvt. Ltd. (Respondent/Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) for an alleged default of Rs. 1,07,07,595/- as on 31.01.2025.
The Petitioner is engaged in the business of building material, marble tiles, and electrical items.
The Petitioner issued a Purchase Order dated 01.07.2015 to the Respondent for the supply of customized marble tiles, to be specifically manufactured and supplied before 31.12.2015.
The Petitioner made an advance payment of Rs. 1,07,07,595/- to the Respondent for the customized marble tiles.
…Petitioner (Amit Enterprise) issued a…
Deadline for the supply of customized…