The case involves a Company Petition filed by M/s. Castle Line Organics Limited (Operational Creditor) against M/s. Dexin Medi Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to its inability to pay the debt. The Corporate Debtor is in the business of manufacturing medicines, and the Operational Creditor supplies raw materials. The Corporate Debtor issued purchase orders for raw materials, with payment terms of 80 days from receipt. The Operational Creditor delivered the goods, but the Corporate Debtor failed to pay despite reminders.
M/s. Castle Line Organics Limited (Operational Creditor) filed a Company Petition against M/s. Dexin Medi Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is engaged in manufacturing medicines, and the Operational Creditor supplies raw materials. The Corporate Debtor issued several purchase orders to the Operational Creditor for raw materials like Cephalexin Monohydrate Compacted, Azithromycin Dihydrate, Amisulpride, and Fenofibrate. The purchase orders stipulated payment within 80 days of receipt of raw materials. The Operational Creditor delivered the goods, which were duly acknowledged by the Corporate Debtor. The Operational Creditor raised invoices amounting to ₹27,25,063, which were
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Corporate Debtor issued…
Corporate Debtor issued…
The case involves a Company Petition filed by M/s. Castle Line Organics Limited (Operational Creditor) against M/s. Dexin Medi Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor sought initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to its inability to pay the debt. The Corporate Debtor is in the business of manufacturing medicines, and the Operational Creditor supplies raw materials. The Corporate Debtor issued purchase orders for raw materials, with payment terms of 80 days from receipt. The Operational Creditor delivered the goods, but the Corporate Debtor failed to pay despite reminders.
M/s. Castle Line Organics Limited (Operational Creditor) filed a Company Petition against M/s. Dexin Medi Solutions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is engaged in manufacturing medicines, and the Operational Creditor supplies raw materials. The Corporate Debtor issued several purchase orders to the Operational Creditor for raw materials like Cephalexin Monohydrate Compacted, Azithromycin Dihydrate, Amisulpride, and Fenofibrate. The purchase orders stipulated payment within 80 days of receipt of raw materials. The Operational Creditor delivered the goods, which were duly acknowledged by the Corporate Debtor. The Operational Creditor raised invoices amounting to ₹27,25,063, which were
…Corporate Debtor issued…
Corporate Debtor issued…