M/s. Shivani Enterprises (Appellant/Operational Creditor) supplied goods to M/s. S Square Cargo Movers Private Limited (Respondent/Corporate Debtor), generating invoices totaling Rs. 1,52,02,816/-. After a part-payment, a principal amount of Rs. 70,54,167/- remained outstanding. The Appellant claimed Rs. 1,06,09,920/- including 3% p.a. compounded interest stipulated in the invoices for delayed payments. A Section 8 demand notice was issued on 03.03.2025. Upon non-payment, the Appellant filed a Section 9 application under the IBC, which the Adjudicating Authority (NCLT, Cuttack Bench) dismissed on 16.01.2026, finding that the operational debt, excluding disputed interest, did not meet the statutory threshold limit of Rs. 1 Crore under Section 4 of the IBC.
M/s. Shivani Enterprises (Appellant/Operational Creditor) supplied goods to M/s. S Square Cargo Movers Private Limited (Corporate Debtor).
Invoices aggregating Rs. 1,52,02,816/- were raised by the Appellant.
The Corporate Debtor made a part-payment of Rs. 48,58,837/-, leaving a principal amount of Rs. 70,54,167/- outstanding.
Invoices stipulated a levy of compounded interest at 3% p.a. on delayed payments.
The total amount claimed by the Appellant, including interest, was Rs. 1,06,09,920/-.
The goods supplied by the Appellant were received and accepted by the Corporate Debtor without any disputes.
A Section 8 demand notice was issued to the Corporate Debtor on 03.03.2025 by the Operational Creditor.
The Corporate Debtor did not repay the outstanding amount.
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The Operational Creditor issued a Section 8…
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M/s. Shivani Enterprises (Appellant/Operational Creditor) supplied goods to M/s. S Square Cargo Movers Private Limited (Respondent/Corporate Debtor), generating invoices totaling Rs. 1,52,02,816/-. After a part-payment, a principal amount of Rs. 70,54,167/- remained outstanding. The Appellant claimed Rs. 1,06,09,920/- including 3% p.a. compounded interest stipulated in the invoices for delayed payments. A Section 8 demand notice was issued on 03.03.2025. Upon non-payment, the Appellant filed a Section 9 application under the IBC, which the Adjudicating Authority (NCLT, Cuttack Bench) dismissed on 16.01.2026, finding that the operational debt, excluding disputed interest, did not meet the statutory threshold limit of Rs. 1 Crore under Section 4 of the IBC.
M/s. Shivani Enterprises (Appellant/Operational Creditor) supplied goods to M/s. S Square Cargo Movers Private Limited (Corporate Debtor).
Invoices aggregating Rs. 1,52,02,816/- were raised by the Appellant.
The Corporate Debtor made a part-payment of Rs. 48,58,837/-, leaving a principal amount of Rs. 70,54,167/- outstanding.
Invoices stipulated a levy of compounded interest at 3% p.a. on delayed payments.
The total amount claimed by the Appellant, including interest, was Rs. 1,06,09,920/-.
The goods supplied by the Appellant were received and accepted by the Corporate Debtor without any disputes.
A Section 8 demand notice was issued to the Corporate Debtor on 03.03.2025 by the Operational Creditor.
The Corporate Debtor did not repay the outstanding amount.
…The Operational Creditor issued a Section 8…
The Corporate Debtor submitted a reply to the…
Sign in to view related legal provisions.