Premier Global Logistics Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against GPR Resources Private Limited, the Corporate Debtor. The Operational Creditor claimed that a sum of Rs. 61,62,583/- was due and payable by the Corporate Debtor for logistics services provided. The Corporate Debtor had issued post-dated cheques that were dishonored due to insufficient funds. Despite legal notices and opportunities, the Corporate Debtor failed to make the payments. The Operational Creditor issued a demand notice under Section 8 of the IBC, 2016, which was served to the Corporate Debtor. The Corporate Debtor did not raise any dispute regarding
…Premier Global Logistics Limited (Operational Creditor) provided logistics services to GPR Resources Private Limited (Corporate Debtor) for the export of granites. The Corporate Debtor owed Rs. 61,62,583/- to the Operational Creditor. The Corporate Debtor issued post-dated cheques to fulfill the payment commitment, but these cheques were dishonored due to 'Funds Insufficient'. The Operational Creditor sent legal notices to the Corporate Debtor regarding the dishonor of cheques. The Corporate Debtor revisited its payment schedule and agreed to close the pending amounts. The Corporate Debtor issued two more cheques, which were also dishonored for the same reason. The Operational Creditor issued a notice of demand under Section 8 of the IBC, 2016, to the Corporate Debtor.
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Premier Global Logistics Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against GPR Resources Private Limited, the Corporate Debtor. The Operational Creditor claimed that a sum of Rs. 61,62,583/- was due and payable by the Corporate Debtor for logistics services provided. The Corporate Debtor had issued post-dated cheques that were dishonored due to insufficient funds. Despite legal notices and opportunities, the Corporate Debtor failed to make the payments. The Operational Creditor issued a demand notice under Section 8 of the IBC, 2016, which was served to the Corporate Debtor. The Corporate Debtor did not raise any dispute regarding
…Premier Global Logistics Limited (Operational Creditor) provided logistics services to GPR Resources Private Limited (Corporate Debtor) for the export of granites. The Corporate Debtor owed Rs. 61,62,583/- to the Operational Creditor. The Corporate Debtor issued post-dated cheques to fulfill the payment commitment, but these cheques were dishonored due to 'Funds Insufficient'. The Operational Creditor sent legal notices to the Corporate Debtor regarding the dishonor of cheques. The Corporate Debtor revisited its payment schedule and agreed to close the pending amounts. The Corporate Debtor issued two more cheques, which were also dishonored for the same reason. The Operational Creditor issued a notice of demand under Section 8 of the IBC, 2016, to the Corporate Debtor.
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