This case involves a petition filed by Inventtive Systems & Automation Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Prolific Systems & Technologies Private Limited (Corporate Debtor) for a default amount of Rs. 5,41,66,039/-.
Inventtive Systems & Automation Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Prolific Systems & Technologies Private Limited (Corporate Debtor).
The total amount of default alleged is Rs. 5,41,66,039/-.
The default occurred on 12.01.2024, the day after the last payment was received from the Corporate Debtor.
The Operational Creditor supplied electrical testing and automation goods to the Corporate Debtor during the period from 11.03.2021 to 31.08.2024.
The Operational Creditor issued a demand notice dated 03.01.2025 for the outstanding amount.
The Corporate Debtor faced financial distress due to disruptions caused by the Covid-19 pandemic.
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The Corporate Debtor approached the Operational…
The Corporate Debtor…
This case involves a petition filed by Inventtive Systems & Automation Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Prolific Systems & Technologies Private Limited (Corporate Debtor) for a default amount of Rs. 5,41,66,039/-.
Inventtive Systems & Automation Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Prolific Systems & Technologies Private Limited (Corporate Debtor).
The total amount of default alleged is Rs. 5,41,66,039/-.
The default occurred on 12.01.2024, the day after the last payment was received from the Corporate Debtor.
The Operational Creditor supplied electrical testing and automation goods to the Corporate Debtor during the period from 11.03.2021 to 31.08.2024.
The Operational Creditor issued a demand notice dated 03.01.2025 for the outstanding amount.
The Corporate Debtor faced financial distress due to disruptions caused by the Covid-19 pandemic.
…The Corporate Debtor approached the Operational…
The Corporate Debtor…