The case involves an application filed by SGV Foils Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jay Polypack Private Limited, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The operational creditor claimed a default amount of INR 7,84,735.00 as of 31.07.2018 for goods supplied, along with an additional INR 4,26,571.00 towards interest charged on late payments. The total operational debt, including interest, amounted to INR 12,11,305.00. The corporate debtor had been purchasing induction ward from the operational creditor since 2015, with the operational creditor raising separate tax invoices for each delivery. The corporate
…SGV Foils Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jay Polypack Private Limited (Corporate Debtor) for unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to INR 7,84,735.00 as of 31.07.2018 for goods supplied. An additional INR 4,26,571.00 was claimed as interest on late payments, totaling INR 12,11,305.00. The Corporate Debtor had been purchasing induction ward from the Operational Creditor since 2015, with invoices raised for each delivery. Part payments were made, with the first invoice dated 11.12.2015 and the last dated 27.07.2016. No payments were received between August and November. A demand notice was sent on
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The Respondent Company had desired of…
The first of said invoices as raised by…
The case involves an application filed by SGV Foils Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jay Polypack Private Limited, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The operational creditor claimed a default amount of INR 7,84,735.00 as of 31.07.2018 for goods supplied, along with an additional INR 4,26,571.00 towards interest charged on late payments. The total operational debt, including interest, amounted to INR 12,11,305.00. The corporate debtor had been purchasing induction ward from the operational creditor since 2015, with the operational creditor raising separate tax invoices for each delivery. The corporate
…SGV Foils Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jay Polypack Private Limited (Corporate Debtor) for unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to INR 7,84,735.00 as of 31.07.2018 for goods supplied. An additional INR 4,26,571.00 was claimed as interest on late payments, totaling INR 12,11,305.00. The Corporate Debtor had been purchasing induction ward from the Operational Creditor since 2015, with invoices raised for each delivery. Part payments were made, with the first invoice dated 11.12.2015 and the last dated 27.07.2016. No payments were received between August and November. A demand notice was sent on
…The Respondent Company had desired of…
The first of said invoices as raised by…