The case involves an application filed by M/s V.R Logistics Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Balwindra Tools Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for logistic services provided. The application was filed due to the failure of the corporate debtor to pay the outstanding dues despite a demand notice issued under Section 8 of the IBC.
M/s V.R Logistics Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Balwindra Tools Private Limited (corporate debtor). The applicant and respondent were in a business relationship where the applicant provided logistic services to the corporate debtor. The applicant supplied goods as per the orders placed by the corporate debtor and raised invoices. From 12.04.2016 to 31.03.2017, the applicant raised 56 invoices which were duly acknowledged by the corporate debtor. The corporate debtor made partial payments, with the last payment on 13.07.2018. As of the application date, the corporate debtor owed Rs. 27,90,742/-, out of which only
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The Insolven…
Rule 6 of the Insolvency and Bankruptcy…
The case involves an application filed by M/s V.R Logistics Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Balwindra Tools Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for logistic services provided. The application was filed due to the failure of the corporate debtor to pay the outstanding dues despite a demand notice issued under Section 8 of the IBC.
M/s V.R Logistics Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Balwindra Tools Private Limited (corporate debtor). The applicant and respondent were in a business relationship where the applicant provided logistic services to the corporate debtor. The applicant supplied goods as per the orders placed by the corporate debtor and raised invoices. From 12.04.2016 to 31.03.2017, the applicant raised 56 invoices which were duly acknowledged by the corporate debtor. The corporate debtor made partial payments, with the last payment on 13.07.2018. As of the application date, the corporate debtor owed Rs. 27,90,742/-, out of which only
…The Insolven…
Rule 6 of the Insolvency and Bankruptcy…