The petitioner, an Operational Creditor, sought initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Operational Creditor claimed that the Corporate Debtor defaulted in remitting amounts under invoices, leading to an Operational Debt. The Corporate Debtor disputed the claim, alleging substandard quality of goods and raising objections regarding quality and quantity. The Adjudicating Authority noted that the Corporate Debtor had not raised these objections before and that the issuance of a cheque supported the Operational Creditor's claim.
Mr. Naveen Chandok, the Operational Creditor, filed a petition against M/S Jan Aahar Pvt. Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of pulses, with outstanding invoices totaling Rs. 73,80,675. The Corporate Debtor made a partial payment of Rs. 25,27,600, leaving a principal sum of Rs. 48,53,075 outstanding. A cheque for Rs. 20,23,032 issued by the Corporate Debtor was dishonored. The Operational Creditor issued a demand notice under Section 8 of the IBC on 30.10.2017, which the Corporate Debtor failed to comply with or dispute. The Corporate Debtor argued that the goods supplied were of substandard quality and that they had never admitted the claim. The
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The Corporate Debtor defaulted in remitting…
The applicant issued the demand notice u/s 8 of…
The petitioner, an Operational Creditor, sought initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Operational Creditor claimed that the Corporate Debtor defaulted in remitting amounts under invoices, leading to an Operational Debt. The Corporate Debtor disputed the claim, alleging substandard quality of goods and raising objections regarding quality and quantity. The Adjudicating Authority noted that the Corporate Debtor had not raised these objections before and that the issuance of a cheque supported the Operational Creditor's claim.
Mr. Naveen Chandok, the Operational Creditor, filed a petition against M/S Jan Aahar Pvt. Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of pulses, with outstanding invoices totaling Rs. 73,80,675. The Corporate Debtor made a partial payment of Rs. 25,27,600, leaving a principal sum of Rs. 48,53,075 outstanding. A cheque for Rs. 20,23,032 issued by the Corporate Debtor was dishonored. The Operational Creditor issued a demand notice under Section 8 of the IBC on 30.10.2017, which the Corporate Debtor failed to comply with or dispute. The Corporate Debtor argued that the goods supplied were of substandard quality and that they had never admitted the claim. The
…The Corporate Debtor defaulted in remitting…
The applicant issued the demand notice u/s 8 of…