M/s.Noveltech Feeds Private Limited, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s.Gold Chick Hatcheries & Food Private Limited, the Corporate Debtor (CD), for failing to pay an amount of Rs.1,29,03,363/- and interest of Rs.18,02,845/-. The OC claimed that the CD defaulted on payments for poultry feeds supplied as per invoices. The CD contested the petition, arguing that the Section 8 notice was not sent to the registered office, the feed supplied was of poor quality, and the interest calculation was not provided. A significant portion of the debt fell within the period specified under Section 10-A of the IBC, which prohibits the initiation of insolvency proceedings for defaults occurring
…M/s.Noveltech Feeds Private Limited (Operational Creditor) supplied poultry feeds to M/s.Gold Chick Hatcheries & Food Private Limited (Corporate Debtor). The Corporate Debtor failed to make payments totaling Rs.1,29,03,363/- along with interest of Rs.18,02,845/- for the period between 19.09.2021 and 31.03.2022. The Operational Creditor issued a demand notice dated 24.05.2022, but the Corporate Debtor did not pay. The Corporate Debtor claimed the Section 8 notice was not sent to the registered office and the feed supplied was of poor quality, causing losses. A portion of the debt was incurred between March 25, 2020, and March 25, 2021, a period covered by Section 10-A of the IBC, which prohibits the initiation of insolvency proceedings for defaults during that time.
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M/s.Noveltech Feeds Private Limited, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against M/s.Gold Chick Hatcheries & Food Private Limited, the Corporate Debtor (CD), for failing to pay an amount of Rs.1,29,03,363/- and interest of Rs.18,02,845/-. The OC claimed that the CD defaulted on payments for poultry feeds supplied as per invoices. The CD contested the petition, arguing that the Section 8 notice was not sent to the registered office, the feed supplied was of poor quality, and the interest calculation was not provided. A significant portion of the debt fell within the period specified under Section 10-A of the IBC, which prohibits the initiation of insolvency proceedings for defaults occurring
…M/s.Noveltech Feeds Private Limited (Operational Creditor) supplied poultry feeds to M/s.Gold Chick Hatcheries & Food Private Limited (Corporate Debtor). The Corporate Debtor failed to make payments totaling Rs.1,29,03,363/- along with interest of Rs.18,02,845/- for the period between 19.09.2021 and 31.03.2022. The Operational Creditor issued a demand notice dated 24.05.2022, but the Corporate Debtor did not pay. The Corporate Debtor claimed the Section 8 notice was not sent to the registered office and the feed supplied was of poor quality, causing losses. A portion of the debt was incurred between March 25, 2020, and March 25, 2021, a period covered by Section 10-A of the IBC, which prohibits the initiation of insolvency proceedings for defaults during that time.
…Start date of the period during which defaults…
End date of the period during which defaults…