M/s Avon Cottex Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against M/s Anandtex International Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding amount of ₹27,80,211/- from the Corporate Debtor for fabric supplied for knitting, dyeing, and processing. The Corporate Debtor raised disputes regarding delays in shipment, quality issues, and shortages of material. The Adjudicating Authority examined the disputes and the evidence presented by both parties to determine whether a genuine dispute existed prior to the issuance of the demand notice.
M/s Avon Cottex Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Anandtex International Private Limited (Corporate Debtor). The Operational Creditor claimed ₹27,80,211/- as outstanding for fabric supplied to the Corporate Debtor for knitting, dyeing, and processing, based on verbal orders with a 15-day credit period. The petition was supported by invoices, transport documents, and ledger accounts. A demand notice was sent on 27.02.2018, but was not delivered by post, though it was sent via email. The Corporate Debtor claimed disputes regarding delays in shipment and quality issues from August to September 2016, which the Operational
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Operational Creditor…
Corporate Debtor raised…
M/s Avon Cottex Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against M/s Anandtex International Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding amount of ₹27,80,211/- from the Corporate Debtor for fabric supplied for knitting, dyeing, and processing. The Corporate Debtor raised disputes regarding delays in shipment, quality issues, and shortages of material. The Adjudicating Authority examined the disputes and the evidence presented by both parties to determine whether a genuine dispute existed prior to the issuance of the demand notice.
M/s Avon Cottex Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Anandtex International Private Limited (Corporate Debtor). The Operational Creditor claimed ₹27,80,211/- as outstanding for fabric supplied to the Corporate Debtor for knitting, dyeing, and processing, based on verbal orders with a 15-day credit period. The petition was supported by invoices, transport documents, and ledger accounts. A demand notice was sent on 27.02.2018, but was not delivered by post, though it was sent via email. The Corporate Debtor claimed disputes regarding delays in shipment and quality issues from August to September 2016, which the Operational
…Operational Creditor…
Corporate Debtor raised…