The case pertains to an application filed by M/s. SMC Corporation (India) Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited, the Corporate Debtor. The Operational Creditor claimed that it had delivered industrial materials to the Corporate Debtor based on twelve purchase orders, and despite repeated requests and reminders, the Corporate Debtor failed to pay the outstanding dues. A demand notice was issued on 18.03.2019, but the Corporate Debtor did not respond or raise any dispute. The application seeks to recover Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due.
M/s. SMC Corporation (India) Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited (Corporate Debtor). The Operational Creditor claimed that it supplied industrial materials to the Corporate Debtor based on twelve purchase orders. Despite repeated requests and reminders, the Corporate Debtor failed to pay outstanding dues amounting to Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due. A demand notice was sent on 18.03.2019 under Section 8 of the IBC, but the Corporate Debtor did not reply or raise any dispute. The demand notice was served twice at the registered address of the
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The Applicant sent a demand notice to the…
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The case pertains to an application filed by M/s. SMC Corporation (India) Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited, the Corporate Debtor. The Operational Creditor claimed that it had delivered industrial materials to the Corporate Debtor based on twelve purchase orders, and despite repeated requests and reminders, the Corporate Debtor failed to pay the outstanding dues. A demand notice was issued on 18.03.2019, but the Corporate Debtor did not respond or raise any dispute. The application seeks to recover Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due.
M/s. SMC Corporation (India) Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Akash Packtech Private Limited (Corporate Debtor). The Operational Creditor claimed that it supplied industrial materials to the Corporate Debtor based on twelve purchase orders. Despite repeated requests and reminders, the Corporate Debtor failed to pay outstanding dues amounting to Rs. 10,74,239/- along with interest at 24% from the date the invoices fell due. A demand notice was sent on 18.03.2019 under Section 8 of the IBC, but the Corporate Debtor did not reply or raise any dispute. The demand notice was served twice at the registered address of the
…The Applicant sent a demand notice to the…
The demand notice was issued twice at the…