The case involves an application filed by Texchem (India), an operational creditor, against Bhowmik Dyeing and Bleaching Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). Texchem (India) claimed that Bhowmik Dyeing defaulted on payments for goods supplied. Despite receiving notices and statements of accounts, Bhowmik Dyeing failed to fully discharge its debt. The operational creditor produced purchase orders, invoices, and bank statements as evidence of the debt and default.
Texchem (India), a proprietorship firm, is an operational creditor. Bhowmik Dyeing and Bleaching Private Limited is the corporate debtor, incorporated on May 12, 2008, and engaged in the business of dyeing, bleaching, and related chemical products. Texchem (India) supplied goods to Bhowmik Dyeing based on purchase orders. The operational creditor raised invoices, some of which were cleared, but many remained pending. Texchem (India) sent statements of accounts to Bhowmik Dyeing, which were confirmed by the corporate debtor. A notice dated October 1, 2018, was sent under Form 3 and 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, and received by Bhowmik Dyeing on October 4, 2018. Bhowmik Dyeing made a partial payment of Rs.
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Bhowmik Dyeing and…
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The case involves an application filed by Texchem (India), an operational creditor, against Bhowmik Dyeing and Bleaching Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). Texchem (India) claimed that Bhowmik Dyeing defaulted on payments for goods supplied. Despite receiving notices and statements of accounts, Bhowmik Dyeing failed to fully discharge its debt. The operational creditor produced purchase orders, invoices, and bank statements as evidence of the debt and default.
Texchem (India), a proprietorship firm, is an operational creditor. Bhowmik Dyeing and Bleaching Private Limited is the corporate debtor, incorporated on May 12, 2008, and engaged in the business of dyeing, bleaching, and related chemical products. Texchem (India) supplied goods to Bhowmik Dyeing based on purchase orders. The operational creditor raised invoices, some of which were cleared, but many remained pending. Texchem (India) sent statements of accounts to Bhowmik Dyeing, which were confirmed by the corporate debtor. A notice dated October 1, 2018, was sent under Form 3 and 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, and received by Bhowmik Dyeing on October 4, 2018. Bhowmik Dyeing made a partial payment of Rs.
…Bhowmik Dyeing and…
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