This is an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Mr. Ajay Jain, the sole proprietor of M/s Radium Fibres, who is an operational creditor, seeking the initiation of Corporate Insolvency Resolution Process (CIRP) against Baldva Textiles Private Limited, the corporate debtor. The applicant and respondent had a business relationship for a long time, where the respondent purchased goods from the applicant on a regular basis. The applicant raised tax invoices for each supply. Over time, the respondent started delaying payments.
Mr. Ajay Jain, the sole proprietor of M/s Radium Fibres, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Baldva Textiles Private Limited. The applicant and respondent had a long-standing business relationship where the respondent purchased goods from the applicant on a regular basis, with the applicant issuing tax invoices for each supply. The respondent started delaying payments over time. The last payment received by the applicant was on 17.09.2020, amounting to Rs. 4,70,019/-. The total amount due from the respondent is Rs. 1,10,52,163/-, including interest. The applicant issued a demand notice on 07.04.2021, which the respondent acknowledged on 12.04.2021,
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Baldva Textiles Private…
Date of defa…
This is an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Mr. Ajay Jain, the sole proprietor of M/s Radium Fibres, who is an operational creditor, seeking the initiation of Corporate Insolvency Resolution Process (CIRP) against Baldva Textiles Private Limited, the corporate debtor. The applicant and respondent had a business relationship for a long time, where the respondent purchased goods from the applicant on a regular basis. The applicant raised tax invoices for each supply. Over time, the respondent started delaying payments.
Mr. Ajay Jain, the sole proprietor of M/s Radium Fibres, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Baldva Textiles Private Limited. The applicant and respondent had a long-standing business relationship where the respondent purchased goods from the applicant on a regular basis, with the applicant issuing tax invoices for each supply. The respondent started delaying payments over time. The last payment received by the applicant was on 17.09.2020, amounting to Rs. 4,70,019/-. The total amount due from the respondent is Rs. 1,10,52,163/-, including interest. The applicant issued a demand notice on 07.04.2021, which the respondent acknowledged on 12.04.2021,
…Baldva Textiles Private…
Date of defa…