Conquerent Control Systems Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Artemis Electricals Limited, the Corporate Debtor.
Conquerent Control Systems Private Limited filed a petition under Section 9 of the IBC against Artemis Electricals Limited.
The petition claimed an amount of Rs. 1,46,63,054/- including interest calculated at 12.75% from 10/10/2019.
The Corporate Debtor issued purchase orders for the supply of panels and transformers to the Operational Creditor for the Delhi Police Headquarters.
The Corporate Debtor alleged defects in the installation and commissioning of panels, leading to tripping issues.
The Corporate Debtor communicated these defects to the Operational Creditor via emails, but the Operational Creditor allegedly failed to rectify them.
The Operational Creditor issued a demand notice under Section 8 of the Code on 22.11.2020, which the Corporate Debtor did not reply to.
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The Company P…
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Conquerent Control Systems Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Artemis Electricals Limited, the Corporate Debtor.
Conquerent Control Systems Private Limited filed a petition under Section 9 of the IBC against Artemis Electricals Limited.
The petition claimed an amount of Rs. 1,46,63,054/- including interest calculated at 12.75% from 10/10/2019.
The Corporate Debtor issued purchase orders for the supply of panels and transformers to the Operational Creditor for the Delhi Police Headquarters.
The Corporate Debtor alleged defects in the installation and commissioning of panels, leading to tripping issues.
The Corporate Debtor communicated these defects to the Operational Creditor via emails, but the Operational Creditor allegedly failed to rectify them.
The Operational Creditor issued a demand notice under Section 8 of the Code on 22.11.2020, which the Corporate Debtor did not reply to.
…The Company P…
The Part IV of Form 5 specify the date of…