The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Grow Max India Private Limited, the Operational Creditor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Agrimas Chemicals Limited, the Corporate Debtor. The Operational Creditor claims a sum of Rs. 26,50,927/- inclusive of interest @18% p.a., which is said to be in default as of 08.01.2018. The Corporate Debtor is a limited company incorporated on 03.07.1973 under the Companies Act, 1956.
Grow Max India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Agrimas Chemicals Limited (Corporate Debtor) for unpaid dues of Rs. 26,50,927/- including interest. The Corporate Debtor purchased materials worth Rs. 22,40,820/- from the Petitioner between January and February 2018, for which the Petitioner issued invoices. The Petitioner issued a demand notice on 15.02.2019 under Section 8 of the IBC. The Corporate Debtor replied on 01.03.2019 and 13.03.2019, denying the liability. The Corporate Debtor claimed that the Petitioner supplied excess and defective quantities of goods, causing financial losses. The Corporate Debtor also contended that there was no agreement for the
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Agrimas Chemicals…
The Operational…
The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Grow Max India Private Limited, the Operational Creditor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Agrimas Chemicals Limited, the Corporate Debtor. The Operational Creditor claims a sum of Rs. 26,50,927/- inclusive of interest @18% p.a., which is said to be in default as of 08.01.2018. The Corporate Debtor is a limited company incorporated on 03.07.1973 under the Companies Act, 1956.
Grow Max India Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Agrimas Chemicals Limited (Corporate Debtor) for unpaid dues of Rs. 26,50,927/- including interest. The Corporate Debtor purchased materials worth Rs. 22,40,820/- from the Petitioner between January and February 2018, for which the Petitioner issued invoices. The Petitioner issued a demand notice on 15.02.2019 under Section 8 of the IBC. The Corporate Debtor replied on 01.03.2019 and 13.03.2019, denying the liability. The Corporate Debtor claimed that the Petitioner supplied excess and defective quantities of goods, causing financial losses. The Corporate Debtor also contended that there was no agreement for the
…Agrimas Chemicals…
The Operational…