The present case involves a company petition where the order is being pronounced in respect of multiple C.P. Nos. (13, 14, 15, 16, and 17 of 2017). These petitions are based on similar facts and are being disposed of through a common order. The applications were found complete under Section 9(5)(2) of the Insolvency and Bankruptcy Code. The corporate debtor is in default of making payments to operational creditors despite invoices raised and goods delivered. A Memorandum of Understanding (MOU) was entered between the corporate debtor and Mr. Dinesh Arora, but the bench views that there is no privity of contract between the operational creditors and Mr. Dinesh Arora regarding the MOU.
J.R. Agro Industries Pvt Ltd is the corporate debtor. Multiple company petitions (C.P. Nos. 13, 14, 15, 16, and 17 of 2017) were filed against the corporate debtor by operational creditors for non-payment of dues. The operational creditors had raised invoices for payment, and goods were delivered to the corporate debtor. The corporate debtor company is in default of making payments of the debts in respect of C.P. No. 13 of 2017, M/s J.R. Agro Industries Private Limited for Rs. 5,08,43,252/-, in C.P. No. 14 of 2017 to M/s Abhi Agro Industries Private Limited for Rs. 28,59,514/-, in C.P. No. 15 of 2017 to the M/s Jai Lakshmi Solvents Private Limited for Rs. 24,66,392/-, in C.P. No. 16 of 2017 to M/s Arohul Foods Private Limited for Rs. 24,75,178/- and in C.P. No. 17 of
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The present case involves a company petition where the order is being pronounced in respect of multiple C.P. Nos. (13, 14, 15, 16, and 17 of 2017). These petitions are based on similar facts and are being disposed of through a common order. The applications were found complete under Section 9(5)(2) of the Insolvency and Bankruptcy Code. The corporate debtor is in default of making payments to operational creditors despite invoices raised and goods delivered. A Memorandum of Understanding (MOU) was entered between the corporate debtor and Mr. Dinesh Arora, but the bench views that there is no privity of contract between the operational creditors and Mr. Dinesh Arora regarding the MOU.
J.R. Agro Industries Pvt Ltd is the corporate debtor. Multiple company petitions (C.P. Nos. 13, 14, 15, 16, and 17 of 2017) were filed against the corporate debtor by operational creditors for non-payment of dues. The operational creditors had raised invoices for payment, and goods were delivered to the corporate debtor. The corporate debtor company is in default of making payments of the debts in respect of C.P. No. 13 of 2017, M/s J.R. Agro Industries Private Limited for Rs. 5,08,43,252/-, in C.P. No. 14 of 2017 to M/s Abhi Agro Industries Private Limited for Rs. 28,59,514/-, in C.P. No. 15 of 2017 to the M/s Jai Lakshmi Solvents Private Limited for Rs. 24,66,392/-, in C.P. No. 16 of 2017 to M/s Arohul Foods Private Limited for Rs. 24,75,178/- and in C.P. No. 17 of
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Date of the Memorandum…