Chaitanya Alloys Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Y. R. Traders Private Limited, alleging failure to pay a debt of ₹4,36,55,343/-.
Chaitanya Alloys Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Y.R. Traders Private Limited (Corporate Debtor).
The Operational Creditor claimed a debt of ₹4,36,55,343/- as of 31 October 2021, due to the Corporate Debtor's failure to refund an advance payment for TMT Bar.
The Corporate Debtor acknowledged the debt in a letter dated 29 February 2016 and promised to pay it within six months, but failed to do so.
The Operational Creditor sent a demand notice under section 8 of the Code on 22 November 2021, which was not replied to by the Corporate Debtor.
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Y.R. Traders Private…
Operational Creditor placed an order for…
Chaitanya Alloys Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Y. R. Traders Private Limited, alleging failure to pay a debt of ₹4,36,55,343/-.
Chaitanya Alloys Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Y.R. Traders Private Limited (Corporate Debtor).
The Operational Creditor claimed a debt of ₹4,36,55,343/- as of 31 October 2021, due to the Corporate Debtor's failure to refund an advance payment for TMT Bar.
The Corporate Debtor acknowledged the debt in a letter dated 29 February 2016 and promised to pay it within six months, but failed to do so.
The Operational Creditor sent a demand notice under section 8 of the Code on 22 November 2021, which was not replied to by the Corporate Debtor.
…Y.R. Traders Private…
Operational Creditor placed an order for…