The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Barflex Polyfilms Pvt. Ltd. (Operational Creditor) to initiate the Corporate Insolvency Resolution Process against M/s Ahuja Roller Flour Mill Pvt. Ltd. (Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for supplied materials, evidenced by dishonored cheques.
M/s Barflex Polyfilms Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ahuja Roller Flour Mill Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of packaging material. Eight invoices were issued to the respondent between 2017-11-28 and 2019-01-02. The Corporate Debtor made payments via five cheques totaling Rs. 22,82,607, but all cheques were dishonored due to 'Funds Insufficient'. The applicant issued notices under Section 138 of the Negotiable Instruments Act on 2019-05-06. A demand notice dated 2019-05-04 was sent under Section 8 of the IBC, demanding
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M/s Barflex Polyfilms…
M/s Ahuja Roller Flour…
The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Barflex Polyfilms Pvt. Ltd. (Operational Creditor) to initiate the Corporate Insolvency Resolution Process against M/s Ahuja Roller Flour Mill Pvt. Ltd. (Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for supplied materials, evidenced by dishonored cheques.
M/s Barflex Polyfilms Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ahuja Roller Flour Mill Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of packaging material. Eight invoices were issued to the respondent between 2017-11-28 and 2019-01-02. The Corporate Debtor made payments via five cheques totaling Rs. 22,82,607, but all cheques were dishonored due to 'Funds Insufficient'. The applicant issued notices under Section 138 of the Negotiable Instruments Act on 2019-05-06. A demand notice dated 2019-05-04 was sent under Section 8 of the IBC, demanding
…M/s Barflex Polyfilms…
M/s Ahuja Roller Flour…