The case involves an application filed by Mr. Ketan Lavingiya, Karta of Ketan Narendrabhai Lavingiya HUF, Proprietor of M/s. Nand Enterprise, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Jinaam's Dress Limited, the corporate debtor, for default in payment of operational debt. The applicant claims that the corporate debtor owes a sum of Rs. 10,30,917 for goods supplied between 16.02.2017 and 22.01.2019, with the last payment received on 15.06.2019. The invoices became due after 45 days from the invoice date, and the applicant also claims interest at 12% per annum from the due dates.
Mr. Ketan Lavingiya, representing M/s. Nand Enterprise, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Jinaam's Dress Limited. Nand Enterprise claimed that Jinaam's Dress Limited owed Rs. 10,30,917 for goods supplied between February 16, 2017, and January 22, 2019. The last payment was received on June 15, 2019. The invoices were due 45 days after the invoice date, and the applicant sought interest at 12% per annum. The applicant submitted invoices, delivery challans, and a demand notice dated September 7, 2019. Jinaam's Dress Limited responded that they had proposed a settlement via email on September 6, 2020, citing business slowdown due to COVID-19 and requesting time to clear the principal amount. The petition was
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The case involves an application filed by Mr. Ketan Lavingiya, Karta of Ketan Narendrabhai Lavingiya HUF, Proprietor of M/s. Nand Enterprise, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Jinaam's Dress Limited, the corporate debtor, for default in payment of operational debt. The applicant claims that the corporate debtor owes a sum of Rs. 10,30,917 for goods supplied between 16.02.2017 and 22.01.2019, with the last payment received on 15.06.2019. The invoices became due after 45 days from the invoice date, and the applicant also claims interest at 12% per annum from the due dates.
Mr. Ketan Lavingiya, representing M/s. Nand Enterprise, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Jinaam's Dress Limited. Nand Enterprise claimed that Jinaam's Dress Limited owed Rs. 10,30,917 for goods supplied between February 16, 2017, and January 22, 2019. The last payment was received on June 15, 2019. The invoices were due 45 days after the invoice date, and the applicant sought interest at 12% per annum. The applicant submitted invoices, delivery challans, and a demand notice dated September 7, 2019. Jinaam's Dress Limited responded that they had proposed a settlement via email on September 6, 2020, citing business slowdown due to COVID-19 and requesting time to clear the principal amount. The petition was
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End date of the period during which goods were…