M/s Bhandari Hosiery Exports Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s In-Time Garments Private Limited, the Corporate Debtor. The applicant claimed to be an operational creditor, alleging that the corporate debtor defaulted on payments for knitted cloth and fabrics supplied. The corporate debtor, however, contended that the supplied fabrics were defective and not as per the required specifications, leading to a pre-existing dispute.
M/s Bhandari Hosiery Exports Limited (Applicant) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s In-Time Garments Private Limited (Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on payments for knitted cloth and fabrics supplied, amounting to Rs. 17,42,195/- as of 23.01.2018. The Applicant stated that the last supply was made on 11.11.2017, and the last payment was received on 05.12.2017. The Corporate Debtor contended that the fabrics supplied were defective and not as per the required specifications. The Corporate Debtor claimed to have informed the Applicant about the defective fabrics via WhatsApp message dated 04.11.2017 and that their
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M/s In-Time Garments…
Corporate Debto…
M/s Bhandari Hosiery Exports Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s In-Time Garments Private Limited, the Corporate Debtor. The applicant claimed to be an operational creditor, alleging that the corporate debtor defaulted on payments for knitted cloth and fabrics supplied. The corporate debtor, however, contended that the supplied fabrics were defective and not as per the required specifications, leading to a pre-existing dispute.
M/s Bhandari Hosiery Exports Limited (Applicant) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s In-Time Garments Private Limited (Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on payments for knitted cloth and fabrics supplied, amounting to Rs. 17,42,195/- as of 23.01.2018. The Applicant stated that the last supply was made on 11.11.2017, and the last payment was received on 05.12.2017. The Corporate Debtor contended that the fabrics supplied were defective and not as per the required specifications. The Corporate Debtor claimed to have informed the Applicant about the defective fabrics via WhatsApp message dated 04.11.2017 and that their
…M/s In-Time Garments…
Corporate Debto…