Searock International Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Minaqua International Private Limited, the Corporate Debtor, for an alleged default of Rs. 3,21,79,000/-.
Searock International Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Minaqua International Private Limited.
The alleged default amount is Rs. 3,21,79,000/- as on 31.03.2023.
The Operational Creditor and Corporate Debtor entered into a Coal Sale and Purchase Agreement dated 19.09.2018.
The Operational Creditor extended an advance of Rs. 3,21,79,000/- to the Corporate Debtor for the supply of coal.
The Corporate Debtor failed to supply the coal and acknowledged its inability to do so due to the COVID-19 pandemic.
The Operational Creditor issued a Demand Notice dated 30.11.2023 under Section 8 of the IBC.
The Corporate Debtor acknowledged the debt by issuing Balance Confirmations dated 31.03.2022 and 31.03.2023.
…Sign in to view the parties.
Execution of Coal Sale and Purchase Agreement…
Application filed under…
Searock International Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Minaqua International Private Limited, the Corporate Debtor, for an alleged default of Rs. 3,21,79,000/-.
Searock International Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Minaqua International Private Limited.
The alleged default amount is Rs. 3,21,79,000/- as on 31.03.2023.
The Operational Creditor and Corporate Debtor entered into a Coal Sale and Purchase Agreement dated 19.09.2018.
The Operational Creditor extended an advance of Rs. 3,21,79,000/- to the Corporate Debtor for the supply of coal.
The Corporate Debtor failed to supply the coal and acknowledged its inability to do so due to the COVID-19 pandemic.
The Operational Creditor issued a Demand Notice dated 30.11.2023 under Section 8 of the IBC.
The Corporate Debtor acknowledged the debt by issuing Balance Confirmations dated 31.03.2022 and 31.03.2023.
…Execution of Coal Sale and Purchase Agreement…
Application filed under…