Valufocus Eco-Revive Packaging (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Devkiran Paper Mills Private Limited (Corporate Debtor) for default in payment of an operational debt of INR 1,96,42,797.44. The Operational Creditor supplied wastepaper and raised 14 invoices, with a principal sum of INR 1,66,98,801/- remaining outstanding after a part payment by the Corporate Debtor. Demand notices were issued, but the Corporate Debtor failed to pay or raise any pre-existing dispute. The Corporate Debtor contended the petition was premature due to ongoing settlement discussions, cited financial stress, claimed invoices lacked due dates, mentioned pending SARFAESI proceedings by another creditor, and disputed the quantum and validity of the

Valufocus Eco-Revive Packaging (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Devkiran Paper Mills Private Limited (Corporate Debtor) for default in payment of an operational debt of INR 1,96,42,797.44. The Operational Creditor supplied wastepaper and raised 14 invoices, with a principal sum of INR 1,66,98,801/- remaining outstanding after a part payment by the Corporate Debtor. Demand notices were issued, but the Corporate Debtor failed to pay or raise any pre-existing dispute. The Corporate Debtor contended the petition was premature due to ongoing settlement discussions, cited financial stress, claimed invoices lacked due dates, mentioned pending SARFAESI proceedings by another creditor, and disputed the quantum and validity of the