M/s. Narindra & Narindra Steel Corporation (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s. Swadesh Green Infra Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on a default of Rs. 1,03,32,546.17, arising from an advance payment made by the Operational Creditor for the supply of iron and steel products. The Corporate Debtor failed to supply the remaining material and subsequently issued a cheque for repayment, which was dishonoured.
M/s. Narindra & Narindra Steel Corporation (Applicant/Operational Creditor) filed an application under Section 9 of the IBC against M/s. Swadesh Green Infra Limited (Respondent/Corporate Debtor) for initiating CIRP.
The application seeks to declare a moratorium and appoint an Interim Resolution Professional (IRP).
The Corporate Debtor defaulted on a payment of Rs. 1,03,32,546.17.
The Applicant is engaged in the business of sale, purchase, and supply of iron materials/products.
The Corporate Debtor represented itself as being engaged in the trading of Iron and Steel products and capable of meeting bulk requirements.
The Applicant placed Purchase Order No. NNSC-PO-2425-146 dated 24.05.2024 and issued Proforma Invoice No. SOIL/24-25/PI/02 dated 24.05.2024.
…Sign in to view the parties.
Applicant placed Purchase Order No.…
Corporate Debtor raised invoices and…
M/s. Narindra & Narindra Steel Corporation (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s. Swadesh Green Infra Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was based on a default of Rs. 1,03,32,546.17, arising from an advance payment made by the Operational Creditor for the supply of iron and steel products. The Corporate Debtor failed to supply the remaining material and subsequently issued a cheque for repayment, which was dishonoured.
M/s. Narindra & Narindra Steel Corporation (Applicant/Operational Creditor) filed an application under Section 9 of the IBC against M/s. Swadesh Green Infra Limited (Respondent/Corporate Debtor) for initiating CIRP.
The application seeks to declare a moratorium and appoint an Interim Resolution Professional (IRP).
The Corporate Debtor defaulted on a payment of Rs. 1,03,32,546.17.
The Applicant is engaged in the business of sale, purchase, and supply of iron materials/products.
The Corporate Debtor represented itself as being engaged in the trading of Iron and Steel products and capable of meeting bulk requirements.
The Applicant placed Purchase Order No. NNSC-PO-2425-146 dated 24.05.2024 and issued Proforma Invoice No. SOIL/24-25/PI/02 dated 24.05.2024.
…Applicant placed Purchase Order No.…
Corporate Debtor raised invoices and…