The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Tata Steel Limited against Hi-Esteem Auto Komponents Private Limited for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor (Tata Steel) claimed that the Corporate Debtor (Hi-Esteem Auto Komponents) defaulted on payments for the supply of steel.
Tata Steel Limited filed a petition under Section 9 of the IBC, 2016 against Hi-Esteem Auto Komponents Private Limited.
The petition was for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
The operational debt claimed was Rs.2,01,64,219.73 along with interest.
The date of default was stated as 21.02.2024.
The CD and OC entered into two purchase orders dated 20.07.2023 and 14.12.2023 for the supply of steel.
A meeting was held on 27 June 2023, where the Corporate Debtor undertook to make payments of INR 2,78,74,669/-.
INR 27,00,067.14 was received in an ad hoc manner from the CD, and another sum of INR 50,10,382.86 was adjusted by credit notes.
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The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Tata Steel Limited against Hi-Esteem Auto Komponents Private Limited for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor (Tata Steel) claimed that the Corporate Debtor (Hi-Esteem Auto Komponents) defaulted on payments for the supply of steel.
Tata Steel Limited filed a petition under Section 9 of the IBC, 2016 against Hi-Esteem Auto Komponents Private Limited.
The petition was for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
The operational debt claimed was Rs.2,01,64,219.73 along with interest.
The date of default was stated as 21.02.2024.
The CD and OC entered into two purchase orders dated 20.07.2023 and 14.12.2023 for the supply of steel.
A meeting was held on 27 June 2023, where the Corporate Debtor undertook to make payments of INR 2,78,74,669/-.
INR 27,00,067.14 was received in an ad hoc manner from the CD, and another sum of INR 50,10,382.86 was adjusted by credit notes.
…One of the pu…
Another purcha…
Sign in to view related legal provisions.