Mr. Manoj Kumar Singhal, proprietor of M/s Decowel Fabrication (Operational Creditor), filed an application under Section 9 of the IBC against M/s SVP Industries Limited (Corporate Debtor) for an unpaid operational debt of Rs. 2,02,60,817.40. The debt arose from the supply of PET bottles, with the first default on 24.10.2022 and the last payment on 09.09.2024. A demand notice was issued but refused, then served via email, to which no reply was received. The Corporate Debtor argued the application was a recovery suit, cited financial challenges, disputed interest, and questioned the admissibility of electronic evidence without a Section 65B certificate.
Mr. Manoj Kumar Singhal, proprietor of M/s Decowel Fabrication (Operational Creditor), filed an application under Section 9 of the IBC against M/s SVP Industries Limited (Corporate Debtor).
The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
The total outstanding operational debt claimed was Rs. 2,02,60,817.40/-.
The date of first default was stated as 24.10.2022, when the Corporate Debtor failed to pay a bill due after 60 days.
The Corporate Debtor was engaged in manufacturing and distribution of liquor and was supplied PET bottles by the Operational Creditor.
Invoices issued by the Operational Creditor had an express condition for payment within 60 days.
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The Corporate Debtor failed to pay a bill for…
Invoices for which…
Mr. Manoj Kumar Singhal, proprietor of M/s Decowel Fabrication (Operational Creditor), filed an application under Section 9 of the IBC against M/s SVP Industries Limited (Corporate Debtor) for an unpaid operational debt of Rs. 2,02,60,817.40. The debt arose from the supply of PET bottles, with the first default on 24.10.2022 and the last payment on 09.09.2024. A demand notice was issued but refused, then served via email, to which no reply was received. The Corporate Debtor argued the application was a recovery suit, cited financial challenges, disputed interest, and questioned the admissibility of electronic evidence without a Section 65B certificate.
Mr. Manoj Kumar Singhal, proprietor of M/s Decowel Fabrication (Operational Creditor), filed an application under Section 9 of the IBC against M/s SVP Industries Limited (Corporate Debtor).
The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
The total outstanding operational debt claimed was Rs. 2,02,60,817.40/-.
The date of first default was stated as 24.10.2022, when the Corporate Debtor failed to pay a bill due after 60 days.
The Corporate Debtor was engaged in manufacturing and distribution of liquor and was supplied PET bottles by the Operational Creditor.
Invoices issued by the Operational Creditor had an express condition for payment within 60 days.
…The Corporate Debtor failed to pay a bill for…
Invoices for which…