Centenary Polytex Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhanashree Agro Product Pvt. Ltd., the corporate debtor, for unpaid operational debt. The application was supported by a board resolution from Centenary Polytex Pvt. Ltd. and a demand notice served to Dhanashree Agro Product Pvt. Ltd.
Centenary Polytex Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Dhanashree Agro Product Pvt. Ltd. (Corporate Debtor) for unpaid operational debt. The operational debt arose from the purchase of goods by the corporate debtor, evidenced by invoices dated 03.12.2014 and 17.12.2014, amounting to Rs. 21,28,256 and Rs. 21,64,014 respectively. The Corporate Debtor made partial payments totaling Rs. 4,31,965, leaving an outstanding amount. A demand notice was issued on 29.07.2017. The total outstanding amount, including interest up to 15.07.2017 at 18% per annum, was Rs. 48,18,511. The operational creditor claimed that no payment or notice of dispute was received from the corporate debtor. The
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Board Resolution passed by Centenary Polytex…
Demand notice of unpaid operational debt…
Centenary Polytex Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhanashree Agro Product Pvt. Ltd., the corporate debtor, for unpaid operational debt. The application was supported by a board resolution from Centenary Polytex Pvt. Ltd. and a demand notice served to Dhanashree Agro Product Pvt. Ltd.
Centenary Polytex Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Dhanashree Agro Product Pvt. Ltd. (Corporate Debtor) for unpaid operational debt. The operational debt arose from the purchase of goods by the corporate debtor, evidenced by invoices dated 03.12.2014 and 17.12.2014, amounting to Rs. 21,28,256 and Rs. 21,64,014 respectively. The Corporate Debtor made partial payments totaling Rs. 4,31,965, leaving an outstanding amount. A demand notice was issued on 29.07.2017. The total outstanding amount, including interest up to 15.07.2017 at 18% per annum, was Rs. 48,18,511. The operational creditor claimed that no payment or notice of dispute was received from the corporate debtor. The
…Board Resolution passed by Centenary Polytex…
Demand notice of unpaid operational debt…