The case involves a petition filed by Moonlight Metal Industries Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Firefly LED Products Private Limited (Corporate Debtor) for default in payment of operational debt.
Moonlight Metal Industries Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC against Firefly LED Products Private Limited (Corporate Debtor) for default in payment of operational debt.
The total amount of default alleged is Rs. 48,41,972/-, comprising principal and interest.
The Operational Creditor issued invoices for goods supplied to the Corporate Debtor between 12.10.2017 and 30.10.2017.
The Corporate Debtor made part-payments, with the last payment being on 14.05.2018.
The Operational Creditor issued a demand notice dated 26.04.2019 to the Corporate Debtor.
The application was initially dismissed for non-prosecution but was later restored.
The Corporate Debtor remained unrepresented despite multiple notices and substituted service.
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Company Petition bearing C.P. (IB) No.…
The Application was…
The case involves a petition filed by Moonlight Metal Industries Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Firefly LED Products Private Limited (Corporate Debtor) for default in payment of operational debt.
Moonlight Metal Industries Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC against Firefly LED Products Private Limited (Corporate Debtor) for default in payment of operational debt.
The total amount of default alleged is Rs. 48,41,972/-, comprising principal and interest.
The Operational Creditor issued invoices for goods supplied to the Corporate Debtor between 12.10.2017 and 30.10.2017.
The Corporate Debtor made part-payments, with the last payment being on 14.05.2018.
The Operational Creditor issued a demand notice dated 26.04.2019 to the Corporate Debtor.
The application was initially dismissed for non-prosecution but was later restored.
The Corporate Debtor remained unrepresented despite multiple notices and substituted service.
…Company Petition bearing C.P. (IB) No.…
The Application was…