Sanjay Stores, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Cookme (Spice) Private Limited, the Corporate Debtor. The Corporate Debtor allegedly owed Rs. 61,86,420/- for goods supplied. A demand notice was issued on 2016-06-30 under Section 8 of the I&B Code. The Corporate Debtor appeared but did not file an affidavit-in-reply. The hearing proceeded ex parte. The Operational Creditor produced a statement of account showing the outstanding debt. The Corporate Debtor claimed a dispute but did not approach the authority to establish their defense. The Operational Creditor complied with Section 9(3)(b) and 9(3)(c) of the I&B Act.

Sanjay Stores, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Cookme (Spice) Private Limited, the Corporate Debtor. The Corporate Debtor allegedly owed Rs. 61,86,420/- for goods supplied. A demand notice was issued on 2016-06-30 under Section 8 of the I&B Code. The Corporate Debtor appeared but did not file an affidavit-in-reply. The hearing proceeded ex parte. The Operational Creditor produced a statement of account showing the outstanding debt. The Corporate Debtor claimed a dispute but did not approach the authority to establish their defense. The Operational Creditor complied with Section 9(3)(b) and 9(3)(c) of the I&B Act.