The case involves an application filed by Naina Rajkumar Bansal, the operational creditor and sole proprietor of M/s Viraj Weaves, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/s Fashion Flare International Private Limited. The operational creditor claims that the corporate debtor defaulted on payments for manufactured cloth supplied to them. The corporate debtor failed to respond to the demand notice within the stipulated time, and the operational creditor filed the application for initiating CIRP.
Naina Rajkumar Bansal, the sole proprietor of M/s Viraj Weaves, supplied manufactured cloth to M/s Fashion Flare International Private Limited, the corporate debtor. The corporate debtor made some initial payments but then stopped, even after receiving further consignments. The corporate debtor used the supplied material for business purposes and earned profits. The corporate debtor blocked the operational creditor's representative's mobile phone and stopped replying to emails. Several invoices remained unpaid, including Invoice No. G/30 dated 2018-10-26, Invoice No. G/31 dated 2018-10-26, Invoice No. G/39 dated 2018-11-03, Invoice No. G/40 dated 2018-11-03, Invoice No. G/69 dated 2018-12-27, and Invoice No. G/83 dated 2018-01-24. A demand notice dated 2020-01-15 was
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Invoice No. G/…
Invoice No. G…
The case involves an application filed by Naina Rajkumar Bansal, the operational creditor and sole proprietor of M/s Viraj Weaves, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/s Fashion Flare International Private Limited. The operational creditor claims that the corporate debtor defaulted on payments for manufactured cloth supplied to them. The corporate debtor failed to respond to the demand notice within the stipulated time, and the operational creditor filed the application for initiating CIRP.
Naina Rajkumar Bansal, the sole proprietor of M/s Viraj Weaves, supplied manufactured cloth to M/s Fashion Flare International Private Limited, the corporate debtor. The corporate debtor made some initial payments but then stopped, even after receiving further consignments. The corporate debtor used the supplied material for business purposes and earned profits. The corporate debtor blocked the operational creditor's representative's mobile phone and stopped replying to emails. Several invoices remained unpaid, including Invoice No. G/30 dated 2018-10-26, Invoice No. G/31 dated 2018-10-26, Invoice No. G/39 dated 2018-11-03, Invoice No. G/40 dated 2018-11-03, Invoice No. G/69 dated 2018-12-27, and Invoice No. G/83 dated 2018-01-24. A demand notice dated 2020-01-15 was
…Invoice No. G/…
Invoice No. G…