The case originates from a petition filed by I-Promark Services, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. I-Promark Services sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Bony Systems and Technologies Ltd., the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for automotive filters supplied by I-Promark Services.
I-Promark Services, an Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against M/s Bony Systems and Technologies Ltd., the Corporate Debtor. I-Promark Services claimed that it supplied automotive filters to the Corporate Debtor, resulting in an outstanding debt of Rs. 4,72,714. Three consignments were supplied against which invoices were raised on 2018-05-05. The Corporate Debtor argued that a pre-existing dispute existed, citing a reply dated 2019-06-06 to a demand notice under Section 8 of IBC and a reply to an MSEFC notice dated 2019-03-20. The Corporate Debtor also claimed to have returned the goods on 2019-01-12. I-Promark Services denied receiving the dispute notice and stated that the goods were returned after the stipulated
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M/s Bony Systems and…
Operational Creditor…
The case originates from a petition filed by I-Promark Services, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. I-Promark Services sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Bony Systems and Technologies Ltd., the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for automotive filters supplied by I-Promark Services.
I-Promark Services, an Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against M/s Bony Systems and Technologies Ltd., the Corporate Debtor. I-Promark Services claimed that it supplied automotive filters to the Corporate Debtor, resulting in an outstanding debt of Rs. 4,72,714. Three consignments were supplied against which invoices were raised on 2018-05-05. The Corporate Debtor argued that a pre-existing dispute existed, citing a reply dated 2019-06-06 to a demand notice under Section 8 of IBC and a reply to an MSEFC notice dated 2019-03-20. The Corporate Debtor also claimed to have returned the goods on 2019-01-12. I-Promark Services denied receiving the dispute notice and stated that the goods were returned after the stipulated
…M/s Bony Systems and…
Operational Creditor…