The case involves an application filed by Bhadresh Trading Corporation Ltd. (Operational Creditor) against Harshavardhan Cotton & Synthetics Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor claimed an outstanding debt of Rs. 1,31,68,654/- arising from sale and purchase transactions of cotton bales. The Corporate Debtor allegedly failed to pay the due amount. The Operational Creditor issued a demand notice dated 17.11.2017 under Section 8(1) of the I&B Code, 2016. The Corporate Debtor denied the correctness of the entries in the statement of account but expressed willingness to reconcile the accounts.
Bhadresh Trading Corporation Ltd. (Operational Creditor) filed an application against Harshavardhan Cotton & Synthetics Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim arose from unpaid dues of Rs. 1,31,68,654/- related to sale and purchase transactions of cotton bales. A running account was maintained by the Operational Creditor. The Operational Creditor issued a demand notice dated 17.11.2017 under Section 8(1) of the I&B Code, 2016. The Corporate Debtor denied the correctness of the entries in the statement of account but expressed willingness to reconcile the accounts. The Corporate Debtor's counsel sought time for instructions but later stated the client was unresponsive. The Operational Creditor complied
…Sign in to view the parties.
The Operational Creditor issued a Demand…
A certificate issued by a Chartered Accountant…
The case involves an application filed by Bhadresh Trading Corporation Ltd. (Operational Creditor) against Harshavardhan Cotton & Synthetics Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The Operational Creditor claimed an outstanding debt of Rs. 1,31,68,654/- arising from sale and purchase transactions of cotton bales. The Corporate Debtor allegedly failed to pay the due amount. The Operational Creditor issued a demand notice dated 17.11.2017 under Section 8(1) of the I&B Code, 2016. The Corporate Debtor denied the correctness of the entries in the statement of account but expressed willingness to reconcile the accounts.
Bhadresh Trading Corporation Ltd. (Operational Creditor) filed an application against Harshavardhan Cotton & Synthetics Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim arose from unpaid dues of Rs. 1,31,68,654/- related to sale and purchase transactions of cotton bales. A running account was maintained by the Operational Creditor. The Operational Creditor issued a demand notice dated 17.11.2017 under Section 8(1) of the I&B Code, 2016. The Corporate Debtor denied the correctness of the entries in the statement of account but expressed willingness to reconcile the accounts. The Corporate Debtor's counsel sought time for instructions but later stated the client was unresponsive. The Operational Creditor complied
…The Operational Creditor issued a Demand…
A certificate issued by a Chartered Accountant…