The Operational Creditor, Sherwin Williams Coatings Pvt. Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Harsh Speciality Coating Private Limited, for allegedly defaulting on a debt of Rs. 58,08,111/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor, raised invoices aggregating to Rs. 5,15,21,777, against which the Corporate Debtor made payments aggregating to Rs. 4,57,13,666/-, leaving a balance outstanding. A statutory demand notice was issued under section 8 of IBC, 2016, but was returned undelivered. The Operational Creditor also emailed the demand notice, but received no response. The Operational
…Sherwin Williams Coatings Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Harsh Speciality Coating Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 58,08,111/-. The Operational Creditor supplied wood coating products to the Corporate Debtor, raising invoices aggregating to Rs. 5,15,21,777. The Corporate Debtor made payments aggregating to Rs. 4,57,13,666/-, leaving a balance outstanding. A statutory demand notice was issued on 13.11.2019 under section 8 of IBC, 2016, but was returned undelivered. The demand notice was also emailed on 19.11.2019, but received no response. The last payment received from the
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The Operational…
A Statutory Demand…
The Operational Creditor, Sherwin Williams Coatings Pvt. Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Harsh Speciality Coating Private Limited, for allegedly defaulting on a debt of Rs. 58,08,111/-. The Operational Creditor claimed to have supplied goods to the Corporate Debtor, raised invoices aggregating to Rs. 5,15,21,777, against which the Corporate Debtor made payments aggregating to Rs. 4,57,13,666/-, leaving a balance outstanding. A statutory demand notice was issued under section 8 of IBC, 2016, but was returned undelivered. The Operational Creditor also emailed the demand notice, but received no response. The Operational
…Sherwin Williams Coatings Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Harsh Speciality Coating Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 58,08,111/-. The Operational Creditor supplied wood coating products to the Corporate Debtor, raising invoices aggregating to Rs. 5,15,21,777. The Corporate Debtor made payments aggregating to Rs. 4,57,13,666/-, leaving a balance outstanding. A statutory demand notice was issued on 13.11.2019 under section 8 of IBC, 2016, but was returned undelivered. The demand notice was also emailed on 19.11.2019, but received no response. The last payment received from the
…The Operational…
A Statutory Demand…