The operational creditor, IDBI Capital Markets & Securities Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against JBF Petrochemicals Ltd., the corporate debtor. The petition alleged a default of Rs. 78,00,000/- for services rendered in assessing and arranging working capital. The operational creditor claimed to have raised three invoices dated June 17, 2016, December 30, 2016, and March 31, 2017, for these services. The corporate debtor, JBF Petrochemicals Ltd., had approached the operational creditor for assistance in assessing and arranging working capital. An offer letter was executed in June 2016, outlining the services and payment terms. The operational creditor claimed that the corporate debtor failed to clear the

The operational creditor, IDBI Capital Markets & Securities Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against JBF Petrochemicals Ltd., the corporate debtor. The petition alleged a default of Rs. 78,00,000/- for services rendered in assessing and arranging working capital. The operational creditor claimed to have raised three invoices dated June 17, 2016, December 30, 2016, and March 31, 2017, for these services. The corporate debtor, JBF Petrochemicals Ltd., had approached the operational creditor for assistance in assessing and arranging working capital. An offer letter was executed in June 2016, outlining the services and payment terms. The operational creditor claimed that the corporate debtor failed to clear the