The case pertains to a joint company petition filed by Thakorbhai Keshav Prajapati and others, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against HeatShrink Technologies Limited. The petitioners allege that the Corporate Debtor defaulted on payments amounting to Rs. 24,39,130/- related to service benefits.
Thakorbhai Keshav Prajapati and others (petitioners) filed a joint company petition to initiate Corporate Insolvency Resolution Process (CIRP) against HeatShrink Technologies Limited (Corporate Debtor). The petitioners claimed that the Corporate Debtor defaulted on payments amounting to Rs. 24,39,130/- related to service benefits, specifically leave encashment and gratuity. The petitioners served demand notices under Section 8 of the IBC, but received no reply. The Corporate Debtor acknowledged the debt in written submissions and requested time to pay due to financial difficulties. The Corporate Debtor sent letters to each petitioner acknowledging the debt and requesting more time to pay. The NCLT found that the Corporate Debtor admitted the liability and defaulted on
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The petitioners individually sent demand…
The Corporate Debtor sent replies to the…
The case pertains to a joint company petition filed by Thakorbhai Keshav Prajapati and others, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against HeatShrink Technologies Limited. The petitioners allege that the Corporate Debtor defaulted on payments amounting to Rs. 24,39,130/- related to service benefits.
Thakorbhai Keshav Prajapati and others (petitioners) filed a joint company petition to initiate Corporate Insolvency Resolution Process (CIRP) against HeatShrink Technologies Limited (Corporate Debtor). The petitioners claimed that the Corporate Debtor defaulted on payments amounting to Rs. 24,39,130/- related to service benefits, specifically leave encashment and gratuity. The petitioners served demand notices under Section 8 of the IBC, but received no reply. The Corporate Debtor acknowledged the debt in written submissions and requested time to pay due to financial difficulties. The Corporate Debtor sent letters to each petitioner acknowledging the debt and requesting more time to pay. The NCLT found that the Corporate Debtor admitted the liability and defaulted on
…The petitioners individually sent demand…
The Corporate Debtor sent replies to the…