Omega Corrugators Private Limited, the Operational Creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Apex Consumer Appliances Private Limited, the Corporate Debtor, alleging default in payment for materials supplied. The Operational Creditor claimed a principal amount of Rs. 64,54,046/- along with interest of Rs. 10,72,623/-, totaling Rs. 75,26,669/-.
Omega Corrugators Private Limited (Operational Creditor) filed a petition against Apex Consumer Appliances Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default in payment. The Operational Creditor supplied materials to the Corporate Debtor based on purchase orders. The Corporate Debtor allegedly failed to pay a principal amount of Rs. 64,54,046/- along with interest, totaling Rs. 75,26,669/-. The Corporate Debtor acknowledged the debt in their books of accounts for the period of 01.04.2017-31.03.2018, 01.04.2018-31.03.2019, 01.04.2019-19.07.2019. The Operational Creditor issued a demand notice on 13.08.2019. The Corporate Debtor contested the claim, alleging uncertified invoices, higher prices, and defective
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Operational Creditor issued a legal Demand…
Counsel appearing for the Corporate Debtor and…
Omega Corrugators Private Limited, the Operational Creditor, filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Apex Consumer Appliances Private Limited, the Corporate Debtor, alleging default in payment for materials supplied. The Operational Creditor claimed a principal amount of Rs. 64,54,046/- along with interest of Rs. 10,72,623/-, totaling Rs. 75,26,669/-.
Omega Corrugators Private Limited (Operational Creditor) filed a petition against Apex Consumer Appliances Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default in payment. The Operational Creditor supplied materials to the Corporate Debtor based on purchase orders. The Corporate Debtor allegedly failed to pay a principal amount of Rs. 64,54,046/- along with interest, totaling Rs. 75,26,669/-. The Corporate Debtor acknowledged the debt in their books of accounts for the period of 01.04.2017-31.03.2018, 01.04.2018-31.03.2019, 01.04.2019-19.07.2019. The Operational Creditor issued a demand notice on 13.08.2019. The Corporate Debtor contested the claim, alleging uncertified invoices, higher prices, and defective
…Operational Creditor issued a legal Demand…
Counsel appearing for the Corporate Debtor and…