The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to pay an outstanding operational debt of Rs. 3,09,221.51. The Corporate Debtor opposed the petition on the grounds that the petitioner was an unregistered partnership firm, there was no outstanding operational debt, and the affidavit supporting the petition was flawed.
Durre Welt Overseas, an unregistered partnership firm (Operational Creditor), filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/S. Gheli International Pvt. Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 3,09,221.51. The debt arose from the supply of 'welt' between April 2, 2015, and June 10, 2016. The Corporate Debtor raised objections, claiming the petitioner was an unregistered firm, there was no outstanding debt due to a debit note, and the affidavit was flawed. The Operational Creditor refuted these claims. The Corporate Debtor issued a debit note on 25.06.2018 for Rs. 3,089,320/- which was denied by the Operational Creditor. The affidavit was executed on a non-judicial stamp paper purchased in Uttar Pradesh, but
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The Operational…
The Operational…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to pay an outstanding operational debt of Rs. 3,09,221.51. The Corporate Debtor opposed the petition on the grounds that the petitioner was an unregistered partnership firm, there was no outstanding operational debt, and the affidavit supporting the petition was flawed.
Durre Welt Overseas, an unregistered partnership firm (Operational Creditor), filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/S. Gheli International Pvt. Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 3,09,221.51. The debt arose from the supply of 'welt' between April 2, 2015, and June 10, 2016. The Corporate Debtor raised objections, claiming the petitioner was an unregistered firm, there was no outstanding debt due to a debit note, and the affidavit was flawed. The Operational Creditor refuted these claims. The Corporate Debtor issued a debit note on 25.06.2018 for Rs. 3,089,320/- which was denied by the Operational Creditor. The affidavit was executed on a non-judicial stamp paper purchased in Uttar Pradesh, but
…The Operational…
The Operational…