M/s. Bhansali Chemicals Private Limited filed C.P (IB) No.136/BB/2020 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Iconium Leather Works Private Limited, alleging default in payment of dues. The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs.31,01,661/- towards the supplies made and Rs.4,58,579/- towards interest thereof at the rate of 18% for the delayed payment totalling to Rs.35,60,210/-. A demand notice was issued on 25.10.2019, but the Corporate Debtor failed to respond.
M/s. Bhansali Chemicals Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Iconium Leather Works Private Limited (Corporate Debtor) due to a default in payment. The Operational Creditor supplied chemicals to the Corporate Debtor between 01/10/2018 and 15/10/2019. The Corporate Debtor failed to pay Rs.31,01,661/- for the supplies and Rs.4,58,579/- as interest at 18% for delayed payment, totaling Rs.35,60,210/-. A demand notice was issued on 25.10.2019. The Corporate Debtor paid Rs.4,26,000/-, but failed to pay the remaining amount. The Operational Creditor argued that the Corporate Debtor's failure to pay indicated insolvency. The Corporate Debtor did not dispute the debt and default and did not appear before the
…Sign in to view the parties.
Operational Creditor supplied chemicals to…
Operational Creditor supplied chemicals to…
M/s. Bhansali Chemicals Private Limited filed C.P (IB) No.136/BB/2020 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Iconium Leather Works Private Limited, alleging default in payment of dues. The Operational Creditor claimed that the Corporate Debtor failed to pay an amount of Rs.31,01,661/- towards the supplies made and Rs.4,58,579/- towards interest thereof at the rate of 18% for the delayed payment totalling to Rs.35,60,210/-. A demand notice was issued on 25.10.2019, but the Corporate Debtor failed to respond.
M/s. Bhansali Chemicals Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Iconium Leather Works Private Limited (Corporate Debtor) due to a default in payment. The Operational Creditor supplied chemicals to the Corporate Debtor between 01/10/2018 and 15/10/2019. The Corporate Debtor failed to pay Rs.31,01,661/- for the supplies and Rs.4,58,579/- as interest at 18% for delayed payment, totaling Rs.35,60,210/-. A demand notice was issued on 25.10.2019. The Corporate Debtor paid Rs.4,26,000/-, but failed to pay the remaining amount. The Operational Creditor argued that the Corporate Debtor's failure to pay indicated insolvency. The Corporate Debtor did not dispute the debt and default and did not appear before the
…Operational Creditor supplied chemicals to…
Operational Creditor supplied chemicals to…