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. Texchem (India) claimed that Bhowmik Dyeing defaulted on payments for goods supplied. The operational creditor sent a notice of default, and the corporate debtor made a partial payment but failed to settle the entire outstanding debt. Despite receiving notices from the operational creditor and the Tribunal, the corporate debtor did not appear or present a defense.
Texchem (India), a proprietorship firm, is an operational creditor of Bhowmik Dyeing and Bleaching Private Limited, a company incorporated on May 12, 2008, engaged in the business of dyeing, bleaching, and related chemical products. Texchem supplied goods to Bhowmik Dyeing based on purchase orders. Texchem raised invoices, some of which were cleared, but many remained pending without legitimate cause. Texchem sent statements of accounts to Bhowmik Dyeing, which were confirmed by the corporate debtor. Texchem sent a notice dated October 1, 2018, under Form 3 and 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, which was received by Bhowmik Dyeing on October 4, 2018. Bhowmik Dyeing made a partial payment of Rs. 1,32,274 on
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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. Texchem (India) claimed that Bhowmik Dyeing defaulted on payments for goods supplied. The operational creditor sent a notice of default, and the corporate debtor made a partial payment but failed to settle the entire outstanding debt. Despite receiving notices from the operational creditor and the Tribunal, the corporate debtor did not appear or present a defense.
Texchem (India), a proprietorship firm, is an operational creditor of Bhowmik Dyeing and Bleaching Private Limited, a company incorporated on May 12, 2008, engaged in the business of dyeing, bleaching, and related chemical products. Texchem supplied goods to Bhowmik Dyeing based on purchase orders. Texchem raised invoices, some of which were cleared, but many remained pending without legitimate cause. Texchem sent statements of accounts to Bhowmik Dyeing, which were confirmed by the corporate debtor. Texchem sent a notice dated October 1, 2018, under Form 3 and 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, which was received by Bhowmik Dyeing on October 4, 2018. Bhowmik Dyeing made a partial payment of Rs. 1,32,274 on
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