M/s. Supreme Packaging Industries filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Al-Dua Food Processing Private Limited, claiming an outstanding debt arising from the supply of plastic packaging material. The applicant contended that the corporate debtor failed to make payments within the agreed 45-day period, leading to an accumulation of debt amounting to Rs. 26,69,373/- along with interest. The corporate debtor raised objections, claiming that the debt was transferred to M/s. MK Overseas Pvt. Ltd. and that the applicant had consented to this transfer. The applicant disputed this claim, alleging forgery and fabrication of documents by the corporate debtor.
M/s. Supreme Packaging Industries (the applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Al-Dua Food Processing Private Limited (the corporate debtor), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the corporate debtor owed a debt of Rs. 26,69,373/- plus interest, arising from the supply of plastic packaging material. The applicant stated that the corporate debtor failed to make payments within 45 days of delivery, as agreed. The corporate debtor acknowledged the debt but claimed it was transferred to M/s. MK Overseas Pvt. Ltd., with the applicant's consent. The applicant disputed this, alleging forgery of a consent letter. The corporate debtor also
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The debt arose from transactions pertaining to…
Materials were duly supplied and delivered on…
M/s. Supreme Packaging Industries filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Al-Dua Food Processing Private Limited, claiming an outstanding debt arising from the supply of plastic packaging material. The applicant contended that the corporate debtor failed to make payments within the agreed 45-day period, leading to an accumulation of debt amounting to Rs. 26,69,373/- along with interest. The corporate debtor raised objections, claiming that the debt was transferred to M/s. MK Overseas Pvt. Ltd. and that the applicant had consented to this transfer. The applicant disputed this claim, alleging forgery and fabrication of documents by the corporate debtor.
M/s. Supreme Packaging Industries (the applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Al-Dua Food Processing Private Limited (the corporate debtor), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the corporate debtor owed a debt of Rs. 26,69,373/- plus interest, arising from the supply of plastic packaging material. The applicant stated that the corporate debtor failed to make payments within 45 days of delivery, as agreed. The corporate debtor acknowledged the debt but claimed it was transferred to M/s. MK Overseas Pvt. Ltd., with the applicant's consent. The applicant disputed this, alleging forgery of a consent letter. The corporate debtor also
…The debt arose from transactions pertaining to…
Materials were duly supplied and delivered on…