The case involves an application filed by Shruti Impex, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jeevan Polymers Pvt Ltd, the corporate debtor, for an outstanding operational debt of Rs. 40,63,877/-. The operational creditor supplied PET Bottle Grade Granules to the corporate debtor based on four purchase orders, but the corporate debtor only partially paid the bills, leaving a balance outstanding. The corporate debtor contended that the petition was not maintainable due to non-compliance with statutory provisions, discrepancies in the claimed debt amount, and the operational creditor not being a valid entity under the IBC. The corporate debtor also claimed to have made payments through Mr. Aziz Sultan of Monarch
…Shruti Impex (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Jeevan Polymers Pvt Ltd (Corporate Debtor) for an outstanding debt of Rs. 40,63,877/-. Shruti Impex supplied PET Bottle Grade Granules to Jeevan Polymers based on four purchase orders. The Corporate Debtor made partial payments, leaving a balance. The Operational Creditor issued a demand notice dated 20.12.2017, but received no response. The Corporate Debtor contended that the petition was not maintainable, citing non-compliance with statutory provisions and discrepancies in the debt amount. The Corporate Debtor also claimed that the Operational Creditor was not a valid entity under the IBC and that payments were made through Mr. Aziz Sultan of
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Purchase order No. 223…
Purchase order No. 416…
The case involves an application filed by Shruti Impex, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Jeevan Polymers Pvt Ltd, the corporate debtor, for an outstanding operational debt of Rs. 40,63,877/-. The operational creditor supplied PET Bottle Grade Granules to the corporate debtor based on four purchase orders, but the corporate debtor only partially paid the bills, leaving a balance outstanding. The corporate debtor contended that the petition was not maintainable due to non-compliance with statutory provisions, discrepancies in the claimed debt amount, and the operational creditor not being a valid entity under the IBC. The corporate debtor also claimed to have made payments through Mr. Aziz Sultan of Monarch
…Shruti Impex (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Jeevan Polymers Pvt Ltd (Corporate Debtor) for an outstanding debt of Rs. 40,63,877/-. Shruti Impex supplied PET Bottle Grade Granules to Jeevan Polymers based on four purchase orders. The Corporate Debtor made partial payments, leaving a balance. The Operational Creditor issued a demand notice dated 20.12.2017, but received no response. The Corporate Debtor contended that the petition was not maintainable, citing non-compliance with statutory provisions and discrepancies in the debt amount. The Corporate Debtor also claimed that the Operational Creditor was not a valid entity under the IBC and that payments were made through Mr. Aziz Sultan of
…Purchase order No. 223…
Purchase order No. 416…