The petition was filed by Aargus Global Logistics Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against East West Logistics Pvt. Ltd. (Corporate Debtor) due to its inability to pay an outstanding debt of Rs. 8,91,063 along with interest. The Operational Creditor provided freight forwarding services to the Corporate Debtor, who accepted the services without raising any disputes regarding their quality.
Aargus Global Logistics Pvt. Ltd. (Operational Creditor) provided freight forwarding services to East West Logistics Pvt. Ltd. (Corporate Debtor). Invoices totaling Rs. 10,05,794 were raised between April 26, 2018, and May 21, 2018. The Corporate Debtor paid Rs. 1,14,731, leaving an outstanding amount of Rs. 8,91,063. The Operational Creditor served a demand notice dated July 11, 2019, under Section 8 of the Insolvency & Bankruptcy Code, 2016, seeking repayment within 10 days. The Corporate Debtor neither replied to the demand notice nor made any payment. The petition was filed in September 2019.
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One of the invoices…
One of the invoices…
The petition was filed by Aargus Global Logistics Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against East West Logistics Pvt. Ltd. (Corporate Debtor) due to its inability to pay an outstanding debt of Rs. 8,91,063 along with interest. The Operational Creditor provided freight forwarding services to the Corporate Debtor, who accepted the services without raising any disputes regarding their quality.
Aargus Global Logistics Pvt. Ltd. (Operational Creditor) provided freight forwarding services to East West Logistics Pvt. Ltd. (Corporate Debtor). Invoices totaling Rs. 10,05,794 were raised between April 26, 2018, and May 21, 2018. The Corporate Debtor paid Rs. 1,14,731, leaving an outstanding amount of Rs. 8,91,063. The Operational Creditor served a demand notice dated July 11, 2019, under Section 8 of the Insolvency & Bankruptcy Code, 2016, seeking repayment within 10 days. The Corporate Debtor neither replied to the demand notice nor made any payment. The petition was filed in September 2019.
One of the invoices…
One of the invoices…