The Operational Creditor, M/s. Shubh Cotton, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, Rajeshwari Cotspin Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) for a default amount of Rs.4,27,89,552.64/-.
M/s. Shubh Cotton, the Operational Creditor, supplied cotton bales to Rajeshwari Cotspin Limited, the Corporate Debtor, between 07.05.2019 and 23.12.2019.
The Corporate Debtor failed to clear its dues despite receiving the goods, leading to a default date of 07.01.2020.
The Corporate Debtor issued several cheques towards payment of the debt, which were subsequently dishonored.
The Operational Creditor initiated proceedings under Section 138 of the Negotiable Instruments Act, 1981, against the Corporate Debtor.
The Operational Creditor issued a demand notice dated 29.04.2023, which the Corporate Debtor replied to on 10.05.2023, denying its liability.
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The Operational Creditor supplied cotton bales…
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The Operational Creditor, M/s. Shubh Cotton, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, Rajeshwari Cotspin Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) for a default amount of Rs.4,27,89,552.64/-.
M/s. Shubh Cotton, the Operational Creditor, supplied cotton bales to Rajeshwari Cotspin Limited, the Corporate Debtor, between 07.05.2019 and 23.12.2019.
The Corporate Debtor failed to clear its dues despite receiving the goods, leading to a default date of 07.01.2020.
The Corporate Debtor issued several cheques towards payment of the debt, which were subsequently dishonored.
The Operational Creditor initiated proceedings under Section 138 of the Negotiable Instruments Act, 1981, against the Corporate Debtor.
The Operational Creditor issued a demand notice dated 29.04.2023, which the Corporate Debtor replied to on 10.05.2023, denying its liability.
…The Operational Creditor supplied cotton bales…
Last date of in…