The petition was filed by Bhagwati Kripa Paper Mills Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against A.P. Enterprises Private Limited, the corporate debtor. The operational creditor, Bhagwati Kripa Paper Mills, is a manufacturer and supplier of high-quality kraft paper. They supplied goods to the corporate debtor based on purchase orders, raising sale orders and invoices periodically. The operational creditor passed a resolution on 23.03.2018 to file the petition against the respondent-corporate debtor.
Bhagwati Kripa Paper Mills Pvt. Ltd. (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against A.P. Enterprises Private Limited (corporate debtor) for initiating the Insolvency Resolution Process. Bhagwati Kripa Paper Mills is a manufacturer and supplier of kraft paper, supplying goods to A.P. Enterprises based on purchase orders. The last invoice was issued on 08.11.2017. The outstanding liability was ₹4,61,85,364.50/- as on 09.02.2018, confirmed by the Director of A.P. Enterprises, Mr. Narinder Kumar Garg. A.P. Enterprises agreed to pay ₹22 lakhs, out of which ₹8 lakhs was transferred on 09.02.2018 and ₹5 lakhs on 23.02.2018. Cheques worth ₹60 lakhs were issued, but ₹50 lakhs worth of cheques were dishonored. A
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The petition was filed by Bhagwati Kripa Paper Mills Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against A.P. Enterprises Private Limited, the corporate debtor. The operational creditor, Bhagwati Kripa Paper Mills, is a manufacturer and supplier of high-quality kraft paper. They supplied goods to the corporate debtor based on purchase orders, raising sale orders and invoices periodically. The operational creditor passed a resolution on 23.03.2018 to file the petition against the respondent-corporate debtor.
Bhagwati Kripa Paper Mills Pvt. Ltd. (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against A.P. Enterprises Private Limited (corporate debtor) for initiating the Insolvency Resolution Process. Bhagwati Kripa Paper Mills is a manufacturer and supplier of kraft paper, supplying goods to A.P. Enterprises based on purchase orders. The last invoice was issued on 08.11.2017. The outstanding liability was ₹4,61,85,364.50/- as on 09.02.2018, confirmed by the Director of A.P. Enterprises, Mr. Narinder Kumar Garg. A.P. Enterprises agreed to pay ₹22 lakhs, out of which ₹8 lakhs was transferred on 09.02.2018 and ₹5 lakhs on 23.02.2018. Cheques worth ₹60 lakhs were issued, but ₹50 lakhs worth of cheques were dishonored. A
…The last invoice for the goods supplied by…
The Director of A.P. Enterprises, Mr.…