M/s. Color Cartons, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against M/s. Fizzy Foodlabs Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed claiming a total default of ₹8,95,086/-, including interest. The Applicant supplied corrugated boxes to the Corporate Debtor as per purchase orders, and the total amount of the invoices aggregated to ₹11,46,072/-. The Corporate Debtor made part payments totaling ₹5,10,761.78/- between 03.07.2017 and 13.11.2017, leaving an outstanding balance of ₹6,35,310/-.
M/s. Color Cartons (Operational Creditor) supplied corrugated boxes to M/s. Fizzy Foodlabs Private Limited (Corporate Debtor) based on purchase orders. Two tax invoices were issued on 23.02.2017 and 16.03.2017, totaling ₹11,46,072/-. The Corporate Debtor made part payments of ₹5,10,761.78/- between 03.07.2017 and 13.11.2017. An outstanding balance of ₹6,35,310/- remained unpaid. The Corporate Debtor admitted to the outstanding amount in its ledger account and via email dated 30.04.2018. The Operational Creditor issued a demand notice under Section 8 of the I&B Code, but the Corporate Debtor failed to reply. The Corporate Debtor later claimed the goods were defective and disputed the interest charges, but these claims were made after the stipulated period for
…Sign in to view the parties.
Applicant supplied "3 ply Corrugated Boxes…
Applicant supplied "3 ply Corrugated Boxes…
M/s. Color Cartons, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against M/s. Fizzy Foodlabs Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed claiming a total default of ₹8,95,086/-, including interest. The Applicant supplied corrugated boxes to the Corporate Debtor as per purchase orders, and the total amount of the invoices aggregated to ₹11,46,072/-. The Corporate Debtor made part payments totaling ₹5,10,761.78/- between 03.07.2017 and 13.11.2017, leaving an outstanding balance of ₹6,35,310/-.
M/s. Color Cartons (Operational Creditor) supplied corrugated boxes to M/s. Fizzy Foodlabs Private Limited (Corporate Debtor) based on purchase orders. Two tax invoices were issued on 23.02.2017 and 16.03.2017, totaling ₹11,46,072/-. The Corporate Debtor made part payments of ₹5,10,761.78/- between 03.07.2017 and 13.11.2017. An outstanding balance of ₹6,35,310/- remained unpaid. The Corporate Debtor admitted to the outstanding amount in its ledger account and via email dated 30.04.2018. The Operational Creditor issued a demand notice under Section 8 of the I&B Code, but the Corporate Debtor failed to reply. The Corporate Debtor later claimed the goods were defective and disputed the interest charges, but these claims were made after the stipulated period for
…Applicant supplied "3 ply Corrugated Boxes…
Applicant supplied "3 ply Corrugated Boxes…