The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Magpet Polymers Private Limited (Operational Creditor) against M/s Hansraj Agrofresh Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor supplied Plastic Pet Perform to the Corporate Debtor under mutually agreed terms. The Operational Creditor raised tax invoices aggregating to Rs. 1,41,81,904/-. A credit note of Rs. 10,154.50/- was issued for short supply. The Corporate Debtor made part payments totaling Rs. 97,62,085/-, leaving an outstanding principal of Rs. 44,09,664.50/-. The Corporate Debtor issued two cheques for Rs. 12,50,000/- each, which were dishonored
…Magpet Polymers Private Limited (Operational Creditor) supplied Plastic Pet Perform to M/s Hansraj Agrofresh Private Limited (Corporate Debtor) under agreed terms. The Operational Creditor raised tax invoices totaling Rs. 1,41,81,904/-. A credit note of Rs. 10,154.50/- was issued for short supply. The Corporate Debtor made part payments of Rs. 97,62,085/-, leaving a principal outstanding of Rs. 44,09,664.50/-. The Corporate Debtor issued two cheques of Rs. 12,50,000/- each, which were dishonored due to insufficient funds. A demand notice under Section 8 of the IBC was served on 2018-11-26, but no reply or payment was made. The Corporate Debtor acknowledged financial liability but claimed deductions for substandard goods. The Operational Creditor filed a petition under
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Invoices issued…
Operational Creditor…
The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Magpet Polymers Private Limited (Operational Creditor) against M/s Hansraj Agrofresh Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor supplied Plastic Pet Perform to the Corporate Debtor under mutually agreed terms. The Operational Creditor raised tax invoices aggregating to Rs. 1,41,81,904/-. A credit note of Rs. 10,154.50/- was issued for short supply. The Corporate Debtor made part payments totaling Rs. 97,62,085/-, leaving an outstanding principal of Rs. 44,09,664.50/-. The Corporate Debtor issued two cheques for Rs. 12,50,000/- each, which were dishonored
…Magpet Polymers Private Limited (Operational Creditor) supplied Plastic Pet Perform to M/s Hansraj Agrofresh Private Limited (Corporate Debtor) under agreed terms. The Operational Creditor raised tax invoices totaling Rs. 1,41,81,904/-. A credit note of Rs. 10,154.50/- was issued for short supply. The Corporate Debtor made part payments of Rs. 97,62,085/-, leaving a principal outstanding of Rs. 44,09,664.50/-. The Corporate Debtor issued two cheques of Rs. 12,50,000/- each, which were dishonored due to insufficient funds. A demand notice under Section 8 of the IBC was served on 2018-11-26, but no reply or payment was made. The Corporate Debtor acknowledged financial liability but claimed deductions for substandard goods. The Operational Creditor filed a petition under
…Invoices issued…
Operational Creditor…