The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by B.P. Agency (Delhi), the Operational Creditor, against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs. 14,90,683/- along with interest at 24% per annum for the supply of paper boards and specialty paper. The Corporate Debtor contested the claim, citing discrepancies in addresses, wet/damaged material, and a 5.5% cash discount agreement.
B.P. Agency (Delhi), the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that it supplied paper boards and specialty paper to the Corporate Debtor, evidenced by invoices dated 31.05.2017, 31.08.2017, 22.09.2017, 10.10.2017, and 10.11.2017. The Operational Creditor raised a demand for Rs. 14,90,683/- along with 24% interest per annum from 01.12.2017 to 30.01.2019. The Corporate Debtor allegedly communicated on 04.07.2016 that the supplied material was wet/damaged to the extent of Rs. 8,47,886/- and requested the Operational Creditor to take back
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Corporate Debtor…
Invoice rai…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by B.P. Agency (Delhi), the Operational Creditor, against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs. 14,90,683/- along with interest at 24% per annum for the supply of paper boards and specialty paper. The Corporate Debtor contested the claim, citing discrepancies in addresses, wet/damaged material, and a 5.5% cash discount agreement.
B.P. Agency (Delhi), the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Brightsun Technocraft Pvt. Ltd, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that it supplied paper boards and specialty paper to the Corporate Debtor, evidenced by invoices dated 31.05.2017, 31.08.2017, 22.09.2017, 10.10.2017, and 10.11.2017. The Operational Creditor raised a demand for Rs. 14,90,683/- along with 24% interest per annum from 01.12.2017 to 30.01.2019. The Corporate Debtor allegedly communicated on 04.07.2016 that the supplied material was wet/damaged to the extent of Rs. 8,47,886/- and requested the Operational Creditor to take back
…Corporate Debtor…
Invoice rai…