The case involves a Company Petition filed by Micromax Informatics Ltd, the Operational Creditor, against Good Day Ventures (India) Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor allegedly defaulted in payment of Rs. 9,88,21,579.70/- for supplied products. An agreement was in place between the parties where the Corporate Debtor was appointed as an Authorized Distributor. The Operational Creditor maintains a running account of the transactions.
Micromax Informatics Ltd (Operational Creditor) filed a petition against Good Day Ventures (India) Pvt Ltd (Corporate Debtor) under Section 9 of the IBC for defaulting on a payment of Rs. 9,88,21,579.70/- for supplied products. The Corporate Debtor was appointed as an Authorized Distributor of the Operational Creditor. The Operational Creditor maintained a running account of the transactions. The Corporate Debtor issued a cheque for Rs. 7,74,67,345/- towards part-payment, which was dishonored. The Operational Creditor initiated proceedings under the Negotiable Instruments Act. A demand notice was issued but returned undelivered. The Corporate Debtor failed to pay the outstanding amount and did not raise any dispute despite receiving the Statutory Demand Notice. The
…Sign in to view the parties.
Corporate Debtor was appointed as Authorized…
Another agreement dated…
The case involves a Company Petition filed by Micromax Informatics Ltd, the Operational Creditor, against Good Day Ventures (India) Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor allegedly defaulted in payment of Rs. 9,88,21,579.70/- for supplied products. An agreement was in place between the parties where the Corporate Debtor was appointed as an Authorized Distributor. The Operational Creditor maintains a running account of the transactions.
Micromax Informatics Ltd (Operational Creditor) filed a petition against Good Day Ventures (India) Pvt Ltd (Corporate Debtor) under Section 9 of the IBC for defaulting on a payment of Rs. 9,88,21,579.70/- for supplied products. The Corporate Debtor was appointed as an Authorized Distributor of the Operational Creditor. The Operational Creditor maintained a running account of the transactions. The Corporate Debtor issued a cheque for Rs. 7,74,67,345/- towards part-payment, which was dishonored. The Operational Creditor initiated proceedings under the Negotiable Instruments Act. A demand notice was issued but returned undelivered. The Corporate Debtor failed to pay the outstanding amount and did not raise any dispute despite receiving the Statutory Demand Notice. The
…Corporate Debtor was appointed as Authorized…
Another agreement dated…