M/S Kapoor Logistics filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Flywheel Logistics Solutions Private Limited, alleging default in payment for logistics services provided. The applicant claimed that the corporate debtor failed to pay an outstanding amount of Rs. 33,69,997/-. The corporate debtor denied the liability, contending that the services were settled for a sum of Rs. 35,68,484/- and that the last payment was made on 22.08.2017. The corporate debtor also alleged poor performance by the applicant and raised debit notes.
M/S Kapoor Logistics (the applicant) provided logistics services to Flywheel Logistics Solutions Private Limited (the corporate debtor) between January 2017 and August 2017, totaling Rs 66,00,860/-. A partial payment of Rs 35,68,484/- was received. The applicant claimed an outstanding amount of Rs 33,69,997/-, including overdue interest. A demand notice was issued on 01.08.2018 under Section 8 of the IBC, 2016. The corporate debtor denied the liability, claiming that the services were settled for Rs 35,68,484/- and that the last payment was made on 22.08.2017. The corporate debtor also alleged poor performance by the applicant and raised debit notes after receiving the demand notice. The applicant filed an application under Section 9 of the IBC, 2016, on 25.10.2018.
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M/S Kapoor Logistics provided logistics…
Flywheel Logistics Solutions Private Limited…
M/S Kapoor Logistics filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Flywheel Logistics Solutions Private Limited, alleging default in payment for logistics services provided. The applicant claimed that the corporate debtor failed to pay an outstanding amount of Rs. 33,69,997/-. The corporate debtor denied the liability, contending that the services were settled for a sum of Rs. 35,68,484/- and that the last payment was made on 22.08.2017. The corporate debtor also alleged poor performance by the applicant and raised debit notes.
M/S Kapoor Logistics (the applicant) provided logistics services to Flywheel Logistics Solutions Private Limited (the corporate debtor) between January 2017 and August 2017, totaling Rs 66,00,860/-. A partial payment of Rs 35,68,484/- was received. The applicant claimed an outstanding amount of Rs 33,69,997/-, including overdue interest. A demand notice was issued on 01.08.2018 under Section 8 of the IBC, 2016. The corporate debtor denied the liability, claiming that the services were settled for Rs 35,68,484/- and that the last payment was made on 22.08.2017. The corporate debtor also alleged poor performance by the applicant and raised debit notes after receiving the demand notice. The applicant filed an application under Section 9 of the IBC, 2016, on 25.10.2018.
…M/S Kapoor Logistics provided logistics…
Flywheel Logistics Solutions Private Limited…