The case involves an application for the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Syndicate Interglobe (Operational Creditor) against Global Fragrances Private Limited (Corporate Debtor) for recovery of Rs. 19,45,226/- including interest at 18% due to the supply of printed labels. The Operational Creditor (OC) claims that the Corporate Debtor (CD) defaulted on payments despite receiving the supplied goods.
Syndicate Interglobe (Operational Creditor) filed a petition against Global Fragrances Private Limited (Corporate Debtor) for initiating CIRP due to unpaid dues of Rs. 19,45,226/-, including 18% interest, for the supply of printed labels. Three purchase orders were placed, with one order (No. 140228 dated 24.7.2015) being paid. The OC supplied printer labels and raised 7 invoices amounting to Rs. 10,99,172.61 and two debit notes for outside jobs worth Rs. 6,39,034/-. A notice under Section 8 of IBC, 2016, was sent via email, supported by an affidavit under Section 65B of the Indian Evidence Act. The initial notice of demand sent through an advocate was deemed invalid based on NCLAT's ruling in Macquire Bank Ltd. Vs Uttam Galva Metallics Ltd. Subsequently, a fresh
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Order No.14022…
Order No.14023…
The case involves an application for the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Syndicate Interglobe (Operational Creditor) against Global Fragrances Private Limited (Corporate Debtor) for recovery of Rs. 19,45,226/- including interest at 18% due to the supply of printed labels. The Operational Creditor (OC) claims that the Corporate Debtor (CD) defaulted on payments despite receiving the supplied goods.
Syndicate Interglobe (Operational Creditor) filed a petition against Global Fragrances Private Limited (Corporate Debtor) for initiating CIRP due to unpaid dues of Rs. 19,45,226/-, including 18% interest, for the supply of printed labels. Three purchase orders were placed, with one order (No. 140228 dated 24.7.2015) being paid. The OC supplied printer labels and raised 7 invoices amounting to Rs. 10,99,172.61 and two debit notes for outside jobs worth Rs. 6,39,034/-. A notice under Section 8 of IBC, 2016, was sent via email, supported by an affidavit under Section 65B of the Indian Evidence Act. The initial notice of demand sent through an advocate was deemed invalid based on NCLAT's ruling in Macquire Bank Ltd. Vs Uttam Galva Metallics Ltd. Subsequently, a fresh
…Order No.14022…
Order No.14023…