Vyash Vanijya Private Limited, an Operational Creditor (OC), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Kaved Steel Products Private Limited, the Corporate Debtor (CD). The application was filed due to unpaid invoices for goods supplied.
Vyash Vanijya Private Limited (Operational Creditor) filed C.P. (IB) No. 444 of 2025 on 07.03.2025 against Kaved Steel Products Private Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed a default amount of Rs. 1,79,21,783/- due towards invoices raised for goods supplied between 08.04.2022 and 04.07.2022, with the date of default being 08.05.2022.
The Corporate Debtor argued that disputes should be resolved through arbitration in Mumbai, as per the purchase order clause.
The Corporate Debtor also claimed that non-payment was due to financial distress caused by the COVID-19 pandemic and requested a 6-month extension for payment.
…Sign in to view the parties.
C.P. (IB) No. 444 of 2025 was filed by Vyash…
The order was…
Vyash Vanijya Private Limited, an Operational Creditor (OC), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Kaved Steel Products Private Limited, the Corporate Debtor (CD). The application was filed due to unpaid invoices for goods supplied.
Vyash Vanijya Private Limited (Operational Creditor) filed C.P. (IB) No. 444 of 2025 on 07.03.2025 against Kaved Steel Products Private Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed a default amount of Rs. 1,79,21,783/- due towards invoices raised for goods supplied between 08.04.2022 and 04.07.2022, with the date of default being 08.05.2022.
The Corporate Debtor argued that disputes should be resolved through arbitration in Mumbai, as per the purchase order clause.
The Corporate Debtor also claimed that non-payment was due to financial distress caused by the COVID-19 pandemic and requested a 6-month extension for payment.
…C.P. (IB) No. 444 of 2025 was filed by Vyash…
The order was…