The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mayur Wovens Private Limited (Operational Creditor) against Audax Protective Fabrics Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to make payments for goods supplied, specifically Polypropylene Woven Fabric. The Operational Creditor dispatched goods according to the purchase order terms, which were received and acknowledged by the Corporate Debtor without any dispute. The Operational Creditor maintained a running account, and the Corporate Debtor regularly made payments against invoices. However, payments against Invoice No. L0486 dated 03.12.2017 and No. L0367 dated 18.09.2018 were not made,
…Mayur Wovens Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Audax Protective Fabrics Private Limited (Corporate Debtor) for non-payment of dues. The Operational Creditor supplied Polypropylene Woven Fabric to the Corporate Debtor based on purchase orders. The Corporate Debtor received and acknowledged the goods without raising any disputes initially. The Operational Creditor maintained a running account, and the Corporate Debtor made regular payments against invoices. However, payments for Invoice No. L0486 dated 03.12.2017 and No. L0367 dated 18.09.2018, totaling ₹7,63,821/-, remained unpaid. The Operational Creditor served a demand notice on 27.03.2019. The Corporate Debtor claimed a
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Audax Protective…
Corporate Debtor ceased to undertake quality…
The case originates from a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Mayur Wovens Private Limited (Operational Creditor) against Audax Protective Fabrics Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to make payments for goods supplied, specifically Polypropylene Woven Fabric. The Operational Creditor dispatched goods according to the purchase order terms, which were received and acknowledged by the Corporate Debtor without any dispute. The Operational Creditor maintained a running account, and the Corporate Debtor regularly made payments against invoices. However, payments against Invoice No. L0486 dated 03.12.2017 and No. L0367 dated 18.09.2018 were not made,
…Mayur Wovens Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Audax Protective Fabrics Private Limited (Corporate Debtor) for non-payment of dues. The Operational Creditor supplied Polypropylene Woven Fabric to the Corporate Debtor based on purchase orders. The Corporate Debtor received and acknowledged the goods without raising any disputes initially. The Operational Creditor maintained a running account, and the Corporate Debtor made regular payments against invoices. However, payments for Invoice No. L0486 dated 03.12.2017 and No. L0367 dated 18.09.2018, totaling ₹7,63,821/-, remained unpaid. The Operational Creditor served a demand notice on 27.03.2019. The Corporate Debtor claimed a
…Audax Protective…
Corporate Debtor ceased to undertake quality…