The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Smt. Kanika Dandona, through her attorney holder Sh. Jatin Dandona, an operational creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against AG Appliances Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for goods and materials supplied during the year 2019. A demand notice was served to the corporate debtor, but no dispute was raised regarding the outstanding payment.
Smt. Kanika Dandona, through her attorney holder Sh. Jatin Dandona, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against AG Appliances Private Limited. The operational creditor, Lakshmi Plastic Centre Co., supplied goods and materials to the corporate debtor during 2019 and issued invoices. The corporate debtor made a partial payment of ₹13,275 on 26.03.2019 but failed to pay the outstanding dues. The total amount in default was ₹3,96,212, including ₹3,66,863 as principal and ₹29,349 as interest at 24% per annum until 02.11.2019. A demand notice dated 02.11.2019 was served to the corporate debtor. The corporate debtor, in its reply dated 12.03.2021, stated that it could not make
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Operational creditor supplied goods and…
Corporate debtor made…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Smt. Kanika Dandona, through her attorney holder Sh. Jatin Dandona, an operational creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against AG Appliances Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for goods and materials supplied during the year 2019. A demand notice was served to the corporate debtor, but no dispute was raised regarding the outstanding payment.
Smt. Kanika Dandona, through her attorney holder Sh. Jatin Dandona, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against AG Appliances Private Limited. The operational creditor, Lakshmi Plastic Centre Co., supplied goods and materials to the corporate debtor during 2019 and issued invoices. The corporate debtor made a partial payment of ₹13,275 on 26.03.2019 but failed to pay the outstanding dues. The total amount in default was ₹3,96,212, including ₹3,66,863 as principal and ₹29,349 as interest at 24% per annum until 02.11.2019. A demand notice dated 02.11.2019 was served to the corporate debtor. The corporate debtor, in its reply dated 12.03.2021, stated that it could not make
…Operational creditor supplied goods and…
Corporate debtor made…