2020 (9) TMI 1154

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....rity) Rules, 2016, by inter alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of M/S. Solas Fire Safety Equipment Private Limited, on the ground that it has committed default for an amount of Rs. 4,35,487.50/- (Rupees Four Lakh Thirty Five Thousand Four Hundred Eighty Seven and Fifty Paise Only) along with interest thereon @18% per annum. 2. Brief facts of the case, as mentioned in the Company Petition, are as follows: (1) M/S. Aster Technologies Private Limited (hereinafter referred to as 'Petitioner/ Operational Creditor') is a Company incorporated under the Companies Act, 1956, having CIN: U74899DL1998PTC033500. The Company is engaged in the business of manufacturing, suppling and trading of Co....

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....orporate Debtor through its reply letter dated 13.03.2018, acknowledge the debt due and made assurance that payment would be cleared in next 30 days. However, till date, the Corporate Debtor has not showed any interest in making the payment. Again, another Demand Notice dated 04.10.2019 was issued to the Corporate Debtor, U/ s 8 of the Code, through their Counsel, on the registered office of the Corporate Debtor. No notice of dispute received thereafter within stipulated period of 10 (ten) days. The Corporate Debtor almost after a span of two months, gave an evasive reply to the said notice on 13.12.2019. From a bare perusal of balance sheet and profit and loss account for the FY 2018-19 of the Corporate Debtor, there is a possibility that ....