Huangyang Zhedong Rubber Auxiliay Imp./Exp. Co. Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dalmia Ploymers LLP, alleging default in payment for supplied goods. The applicant claimed that the corporate debtor failed to pay the outstanding amount of USD 306,031.25 despite receiving invoices and acknowledging the debt through emails. The corporate debtor, however, contended that the applicant supplied inferior quality goods deviating from the agreed quantity and timelines, causing harm to its business.
Huangyang Zhedong Rubber Auxiliay Imp./Exp. Co. Limited (the Applicant), an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Dalmia Ploymers LLP (the Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on payments for rubber and chemical goods supplied between 31.10.2018 and 13.03.2019. The outstanding amount was USD 306,031.25. The Applicant issued a demand notice on 13.06.2019 under Section 8 of the IBC. The Corporate Debtor acknowledged the debt in emails dated 11.04.2019, 07.05.2019, 30.05.2019, 03.06.2019, and 05.06.2019, but failed to make payments. The Corporate Debtor contended that the goods supplied were of inferior quality and deviated from the agreed quantity and
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Applicant raised various Proforma…
Applicant raised various Proforma…
Huangyang Zhedong Rubber Auxiliay Imp./Exp. Co. Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dalmia Ploymers LLP, alleging default in payment for supplied goods. The applicant claimed that the corporate debtor failed to pay the outstanding amount of USD 306,031.25 despite receiving invoices and acknowledging the debt through emails. The corporate debtor, however, contended that the applicant supplied inferior quality goods deviating from the agreed quantity and timelines, causing harm to its business.
Huangyang Zhedong Rubber Auxiliay Imp./Exp. Co. Limited (the Applicant), an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Dalmia Ploymers LLP (the Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on payments for rubber and chemical goods supplied between 31.10.2018 and 13.03.2019. The outstanding amount was USD 306,031.25. The Applicant issued a demand notice on 13.06.2019 under Section 8 of the IBC. The Corporate Debtor acknowledged the debt in emails dated 11.04.2019, 07.05.2019, 30.05.2019, 03.06.2019, and 05.06.2019, but failed to make payments. The Corporate Debtor contended that the goods supplied were of inferior quality and deviated from the agreed quantity and
…Applicant raised various Proforma…
Applicant raised various Proforma…