Pushkar Impex Pvt. Ltd., an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Diamond Polymers Private Limited, the corporate debtor, alleging default in payment of operational debt. The operational creditor claimed that it supplied PVC goods to the corporate debtor, who failed to pay the outstanding amount. The operational creditor issued a demand notice under Section 8(1) of the IBC, but the corporate debtor neither replied nor made the payment.
Pushkar Impex Pvt. Ltd. (operational creditor) supplied PVC goods to Diamond Polymers Private Limited (corporate debtor) on March 24, 2016, for a total value of Rs. 81,15,818. The goods were sold on credit for 90 days. The corporate debtor made a partial payment of Rs. 10,19,036.75, leaving a balance of Rs. 70,96,781.25. The corporate debtor failed to pay the outstanding amount by June 22, 2016. The operational creditor claimed interest at 12% per annum, bringing the total outstanding amount to Rs. 79,48,394.97 as of April 23, 2017. The operational creditor sent a demand notice on March 29, 2016, which was duly served on the corporate debtor on March 30, 2017. The corporate debtor did not reply to the notice or make the payment. The operational creditor then filed an
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Pushkar Impex Pvt. Ltd. supplied PVC goods to…
Diamond Polymers Private…
Pushkar Impex Pvt. Ltd., an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Diamond Polymers Private Limited, the corporate debtor, alleging default in payment of operational debt. The operational creditor claimed that it supplied PVC goods to the corporate debtor, who failed to pay the outstanding amount. The operational creditor issued a demand notice under Section 8(1) of the IBC, but the corporate debtor neither replied nor made the payment.
Pushkar Impex Pvt. Ltd. (operational creditor) supplied PVC goods to Diamond Polymers Private Limited (corporate debtor) on March 24, 2016, for a total value of Rs. 81,15,818. The goods were sold on credit for 90 days. The corporate debtor made a partial payment of Rs. 10,19,036.75, leaving a balance of Rs. 70,96,781.25. The corporate debtor failed to pay the outstanding amount by June 22, 2016. The operational creditor claimed interest at 12% per annum, bringing the total outstanding amount to Rs. 79,48,394.97 as of April 23, 2017. The operational creditor sent a demand notice on March 29, 2016, which was duly served on the corporate debtor on March 30, 2017. The corporate debtor did not reply to the notice or make the payment. The operational creditor then filed an
…Pushkar Impex Pvt. Ltd. supplied PVC goods to…
Diamond Polymers Private…