Alumilite Architecturals Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Sheth Developers Private Limited, claiming default of Rs.45,91,751/-.
Alumilite Architecturals Limited filed a petition under Section 9 of the IBC to initiate CIRP against Sheth Developers Private Limited.
The Operational Creditor claimed a default amount of Rs.45,91,751/-.
The Corporate Debtor argued that the claim was time-barred and that the Operational Creditor suppressed information.
The Corporate Debtor acknowledged the debt in a letter dated 29.01.2018.
The Adjudicating Authority found that the debt was already time-barred on 03.11.2017.
The Operational Creditor raised 217 Tax Invoices amounting to Rs.13,67,93,863/- against which part payment of Rs.13,45,45,076/- was received from the Corporate Debtor.
The Corporate Debtor made part payment amounting to Rs.23,42,966/- in four tranches on 06.09.2016, 09.12.2016, 11.09.2017 and 17.03.2017.
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Alumilite Architecturals Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Sheth Developers Private Limited, claiming default of Rs.45,91,751/-.
Alumilite Architecturals Limited filed a petition under Section 9 of the IBC to initiate CIRP against Sheth Developers Private Limited.
The Operational Creditor claimed a default amount of Rs.45,91,751/-.
The Corporate Debtor argued that the claim was time-barred and that the Operational Creditor suppressed information.
The Corporate Debtor acknowledged the debt in a letter dated 29.01.2018.
The Adjudicating Authority found that the debt was already time-barred on 03.11.2017.
The Operational Creditor raised 217 Tax Invoices amounting to Rs.13,67,93,863/- against which part payment of Rs.13,45,45,076/- was received from the Corporate Debtor.
The Corporate Debtor made part payment amounting to Rs.23,42,966/- in four tranches on 06.09.2016, 09.12.2016, 11.09.2017 and 17.03.2017.
…Corporate Debtor vide letter dated…
The Operational Creditor served upon the…
Sign in to view related legal provisions.