RQS Engineering Pvt. Ltd., an Operational Creditor, filed a petition under Section 9 of the IBC, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aditya Thermopack Pvt. Ltd., the Corporate Debtor, due to its inability to liquidate outstanding dues. The Operational Creditor had been supplying goods to the Corporate Debtor, maintaining a running account. Despite reminders, the Corporate Debtor failed to pay the outstanding amount, leading to the filing of the petition after issuing a demand notice.
RQS Engineering Pvt. Ltd. (Operational Creditor) supplied goods to Aditya Thermopack Pvt. Ltd. (Corporate Debtor) and maintained a running account. Two invoices were raised on 2019-09-19 and 2019-09-20. Aditya Thermopack Pvt. Ltd. failed to pay the outstanding amount despite reminders. RQS Engineering Pvt. Ltd. issued a demand notice on 2019-04-23 under Section 8 of the IBC. Aditya Thermopack Pvt. Ltd. acknowledged the outstanding liability in an email dated 2019-05-22 and proposed a payment plan, but failed to take necessary steps to liquidate the debt. The Corporate Debtor's plant was reportedly devastated due to fire. The Corporate Debtor did not appear before the Tribunal despite service of notice.
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Operational Creditor issued a demand notice to…
Corporate Debtor acknowledged the…
RQS Engineering Pvt. Ltd., an Operational Creditor, filed a petition under Section 9 of the IBC, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aditya Thermopack Pvt. Ltd., the Corporate Debtor, due to its inability to liquidate outstanding dues. The Operational Creditor had been supplying goods to the Corporate Debtor, maintaining a running account. Despite reminders, the Corporate Debtor failed to pay the outstanding amount, leading to the filing of the petition after issuing a demand notice.
RQS Engineering Pvt. Ltd. (Operational Creditor) supplied goods to Aditya Thermopack Pvt. Ltd. (Corporate Debtor) and maintained a running account. Two invoices were raised on 2019-09-19 and 2019-09-20. Aditya Thermopack Pvt. Ltd. failed to pay the outstanding amount despite reminders. RQS Engineering Pvt. Ltd. issued a demand notice on 2019-04-23 under Section 8 of the IBC. Aditya Thermopack Pvt. Ltd. acknowledged the outstanding liability in an email dated 2019-05-22 and proposed a payment plan, but failed to take necessary steps to liquidate the debt. The Corporate Debtor's plant was reportedly devastated due to fire. The Corporate Debtor did not appear before the Tribunal despite service of notice.
Operational Creditor issued a demand notice to…
Corporate Debtor acknowledged the…