Raychem RPG Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Soura Natural Energy Solutions India Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for an unpaid operational debt of Rs. 4,22,57,922/-. An earlier Section 9 petition was filed, admitted, and an Interim Resolution Professional (IRP) appointed, but subsequently withdrawn based on a Settlement Deed dated 02.02.2022. The Corporate Debtor failed to adhere to the terms of this settlement, making only partial and irregular payments. The Operational Creditor re-initiated CIRP after issuing a fresh demand notice, citing breach of the settlement deed which included a clause (Clause 9) explicitly reserving the right to
…Raychem RPG Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Soura Natural Energy Solutions India Pvt. Ltd. (Corporate Debtor) for alleged default in repayment of operational debt.
The operational debt amounted to Rs. 4,22,57,922/-.
The Operational Creditor supplied goods, including solar panels and inverters, to the Corporate Debtor on a credit basis from April 2018 to May 2019.
The Corporate Debtor failed to make payments for the amounts due under the invoices, resulting in an operational debt.
An earlier application under Section 9 of the Code, CP(IB)/23/KOB/2021, was filed by the Operational Creditor for Rs. 4,42,72,038.61/- (inclusive of interest).
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Raychem RPG Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Soura Natural Energy Solutions India Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for an unpaid operational debt of Rs. 4,22,57,922/-. An earlier Section 9 petition was filed, admitted, and an Interim Resolution Professional (IRP) appointed, but subsequently withdrawn based on a Settlement Deed dated 02.02.2022. The Corporate Debtor failed to adhere to the terms of this settlement, making only partial and irregular payments. The Operational Creditor re-initiated CIRP after issuing a fresh demand notice, citing breach of the settlement deed which included a clause (Clause 9) explicitly reserving the right to
…Raychem RPG Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Soura Natural Energy Solutions India Pvt. Ltd. (Corporate Debtor) for alleged default in repayment of operational debt.
The operational debt amounted to Rs. 4,22,57,922/-.
The Operational Creditor supplied goods, including solar panels and inverters, to the Corporate Debtor on a credit basis from April 2018 to May 2019.
The Corporate Debtor failed to make payments for the amounts due under the invoices, resulting in an operational debt.
An earlier application under Section 9 of the Code, CP(IB)/23/KOB/2021, was filed by the Operational Creditor for Rs. 4,42,72,038.61/- (inclusive of interest).
…Operational Creditor began supplying goods,…
Operational Creditor…