The case pertains to an I.B. Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner, an operational creditor, claimed that the corporate debtor defaulted on payments for goods purchased and consumed between 31.04.2015 and 31.12.2017. The adjudicating authority observed deficiencies in the petition, including the absence of mandatory documents and discrepancies in the stated date of default. A pre-existing dispute between the parties was also noted, along with a prior attempt at settlement involving police intervention.
ATO (I) Ltd., the operational creditor, filed an I.B. Petition against C. Doctor & Co. Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition claimed a default in payment for goods purchased and consumed between 31.04.2015 and 31.12.2017. The date of default was mentioned as 30.04.2015. The petition lacked mandatory documents, including a copy of the demand notice with supporting bills. A demand notice was issued on 01.11.2017 and returned undelivered. The corporate debtor disputed the claim before the facilitation council of WBSMSC, Kolkata. A prior attempt at settlement involving police intervention had occurred. The I.B. Petition was presented before the registry on 23.01.2018.
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The petitioner claimed…
The petitioner alleged that the Corporate…
The case pertains to an I.B. Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner, an operational creditor, claimed that the corporate debtor defaulted on payments for goods purchased and consumed between 31.04.2015 and 31.12.2017. The adjudicating authority observed deficiencies in the petition, including the absence of mandatory documents and discrepancies in the stated date of default. A pre-existing dispute between the parties was also noted, along with a prior attempt at settlement involving police intervention.
ATO (I) Ltd., the operational creditor, filed an I.B. Petition against C. Doctor & Co. Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition claimed a default in payment for goods purchased and consumed between 31.04.2015 and 31.12.2017. The date of default was mentioned as 30.04.2015. The petition lacked mandatory documents, including a copy of the demand notice with supporting bills. A demand notice was issued on 01.11.2017 and returned undelivered. The corporate debtor disputed the claim before the facilitation council of WBSMSC, Kolkata. A prior attempt at settlement involving police intervention had occurred. The I.B. Petition was presented before the registry on 23.01.2018.
The petitioner claimed…
The petitioner alleged that the Corporate…