Fettech Commercial Enterprises Private Limited (Operational Creditor) filed a Section 9 IBC application against Mercury Trade Links Limited (Corporate Debtor) for an unpaid operational debt of Rs.2.70 crore for agricultural products supplied. The Corporate Debtor disputed the amount, citing pre-existing issues of delayed supply and inferior quality, and also questioned the applicant's authority to file the petition.
Fettech Commercial Enterprises Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC against Mercury Trade Links Limited (Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Mercury Trade Links Limited for an outstanding operational debt of Rs.2,70,00,000/-.
Both companies are incorporated under the Companies Act and are engaged in the business of agriculture-related products.
From 01.04.2024 to 31.12.2024, the Corporate Debtor approached the Operational Creditor for the supply of agricultural products, which were supplied and received without dispute.
A running account was maintained, with invoices payable within 3 months of issuance.
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Fettech Commercial Enterprises Pvt Ltd…
The last invoice for…
Fettech Commercial Enterprises Private Limited (Operational Creditor) filed a Section 9 IBC application against Mercury Trade Links Limited (Corporate Debtor) for an unpaid operational debt of Rs.2.70 crore for agricultural products supplied. The Corporate Debtor disputed the amount, citing pre-existing issues of delayed supply and inferior quality, and also questioned the applicant's authority to file the petition.
Fettech Commercial Enterprises Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC against Mercury Trade Links Limited (Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Mercury Trade Links Limited for an outstanding operational debt of Rs.2,70,00,000/-.
Both companies are incorporated under the Companies Act and are engaged in the business of agriculture-related products.
From 01.04.2024 to 31.12.2024, the Corporate Debtor approached the Operational Creditor for the supply of agricultural products, which were supplied and received without dispute.
A running account was maintained, with invoices payable within 3 months of issuance.
…Fettech Commercial Enterprises Pvt Ltd…
The last invoice for…