Mabel Cosmetics filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Apogee Healthcare Private Limited, alleging default in payment of ₹16,71,954 since 02.02.2019. The petitioner and the corporate debtor had a super stockist agreement dated 03.07.2018, where the petitioner was appointed as a super stockist for the health care products of the Corporate Debtor. The petitioner returned the stocks to the Corporate Debtor and claimed the amount paid for the stock.
Mabel Cosmetics (Petitioner) filed a petition against Apogee Healthcare Private Limited (Corporate Debtor) to initiate CIRP, claiming a default of ₹16,71,954 since 02.02.2019. The petitioner and the corporate debtor entered into a super stockist agreement on 03.07.2018, where the petitioner was appointed as a super stockist for the health care products of the Corporate Debtor. The petitioner was to market the products in North Maharashtra and Gujarat, with the Corporate Debtor providing a 7% discount/margin. The petitioner returned goods worth ₹13,56,954 and claimed ₹3,15,000 as discount/margin amount. The petitioner sent an email on 20.10.2018 to discontinue the arrangement and requested settlement of dues. A demand notice was issued on 19.04.2019 for ₹17,57,900.
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Petitioner and…
Petitioner sent an…
Mabel Cosmetics filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Apogee Healthcare Private Limited, alleging default in payment of ₹16,71,954 since 02.02.2019. The petitioner and the corporate debtor had a super stockist agreement dated 03.07.2018, where the petitioner was appointed as a super stockist for the health care products of the Corporate Debtor. The petitioner returned the stocks to the Corporate Debtor and claimed the amount paid for the stock.
Mabel Cosmetics (Petitioner) filed a petition against Apogee Healthcare Private Limited (Corporate Debtor) to initiate CIRP, claiming a default of ₹16,71,954 since 02.02.2019. The petitioner and the corporate debtor entered into a super stockist agreement on 03.07.2018, where the petitioner was appointed as a super stockist for the health care products of the Corporate Debtor. The petitioner was to market the products in North Maharashtra and Gujarat, with the Corporate Debtor providing a 7% discount/margin. The petitioner returned goods worth ₹13,56,954 and claimed ₹3,15,000 as discount/margin amount. The petitioner sent an email on 20.10.2018 to discontinue the arrangement and requested settlement of dues. A demand notice was issued on 19.04.2019 for ₹17,57,900.
…Petitioner and…
Petitioner sent an…