The case involves an application filed by M/s V.R Logistics Limited, an operational creditor, against M/s Balwindra Tools Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid dues for logistic services provided. The applicant and respondent had 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, against which partial payments were made.
M/s V.R Logistics Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Balwindra Tools Private Limited (corporate debtor) due to unpaid dues. The applicant and respondent had a business relationship where the applicant provided logistic services to the corporate debtor. The applicant supplied goods as per orders and raised invoices, against which partial payments were made. From 12.04.2016 to 31.03.2017, the applicant raised 56 invoices, which were acknowledged by the corporate debtor. The last partial payment was made on 13.07.2018. As of the application date, the services provided were worth Rs. 27,90,742/-, out of which the respondent paid Rs. 15,97,161/-. On failure to pay the outstanding dues,
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The Insolven…
The applicant raised 56…
The case involves an application filed by M/s V.R Logistics Limited, an operational creditor, against M/s Balwindra Tools Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid dues for logistic services provided. The applicant and respondent had 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, against which partial payments were made.
M/s V.R Logistics Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Balwindra Tools Private Limited (corporate debtor) due to unpaid dues. The applicant and respondent had a business relationship where the applicant provided logistic services to the corporate debtor. The applicant supplied goods as per orders and raised invoices, against which partial payments were made. From 12.04.2016 to 31.03.2017, the applicant raised 56 invoices, which were acknowledged by the corporate debtor. The last partial payment was made on 13.07.2018. As of the application date, the services provided were worth Rs. 27,90,742/-, out of which the respondent paid Rs. 15,97,161/-. On failure to pay the outstanding dues,
…The Insolven…
The applicant raised 56…