Epic Steel Industry filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ambey Castings Private Limited for initiating Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Epic Steel Industry, the Operational Creditor, supplied 667.91 MT of pig iron and runner skull to Ambey Castings Private Limited, the Corporate Debtor, under 21 invoices issued between September 2023 and May 2024.
The Corporate Debtor provided a balance confirmation on 31 March 2024, acknowledging an outstanding principal of ₹2,25,68,982.18.
The Operational Creditor continued supplies until May 2024, adding a further ₹49,70,768.88 to the outstanding balance.
The Corporate Debtor made ad hoc payments totaling ₹70,25,000 between 01 April and 31 May 2024.
The Operational Creditor issued a Demand Notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, for ₹2,33,36,751.75 (inclusive of interest).
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Epic Steel Industry supplied goods to Ambey…
Ambey Castings Private Limited provided a…
Epic Steel Industry filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ambey Castings Private Limited for initiating Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Epic Steel Industry, the Operational Creditor, supplied 667.91 MT of pig iron and runner skull to Ambey Castings Private Limited, the Corporate Debtor, under 21 invoices issued between September 2023 and May 2024.
The Corporate Debtor provided a balance confirmation on 31 March 2024, acknowledging an outstanding principal of ₹2,25,68,982.18.
The Operational Creditor continued supplies until May 2024, adding a further ₹49,70,768.88 to the outstanding balance.
The Corporate Debtor made ad hoc payments totaling ₹70,25,000 between 01 April and 31 May 2024.
The Operational Creditor issued a Demand Notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, for ₹2,33,36,751.75 (inclusive of interest).
…Epic Steel Industry supplied goods to Ambey…
Ambey Castings Private Limited provided a…