The case involves a petition filed by M/s Ganapati Traders, an operational creditor, against M/s Juggilal Kamlpat Jute Mills Company Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor owed them Rs. 3,40,189/- for goods sold and delivered. The corporate debtor raised objections, contending that there was a pre-existing dispute, the claim was barred by limitation, and the invoices were not valid.
M/s Ganapati Traders, an operational creditor, filed a petition against M/s Juggilal Kamlpat Jute Mills Company Limited, a corporate debtor, claiming an outstanding debt of Rs. 3,40,189/- for goods sold and delivered. The operational creditor submitted invoices and a demand notice dated 16.08.2017. The corporate debtor objected to the petition, stating that the debt was of the year 2004, when the management was with Singhania Group, and the present management (Sarda Group) took over in 2007. The corporate debtor also claimed that a suit (O.S. No.500 of 2017) titled "GEO Jute Limited Vs. Union of India" was pending adjudication, indicating a pre-existing dispute. The corporate debtor further argued that the invoices were not valid as they were not on the
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Operational Creditor…
Sarda Group took over…
The case involves a petition filed by M/s Ganapati Traders, an operational creditor, against M/s Juggilal Kamlpat Jute Mills Company Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor owed them Rs. 3,40,189/- for goods sold and delivered. The corporate debtor raised objections, contending that there was a pre-existing dispute, the claim was barred by limitation, and the invoices were not valid.
M/s Ganapati Traders, an operational creditor, filed a petition against M/s Juggilal Kamlpat Jute Mills Company Limited, a corporate debtor, claiming an outstanding debt of Rs. 3,40,189/- for goods sold and delivered. The operational creditor submitted invoices and a demand notice dated 16.08.2017. The corporate debtor objected to the petition, stating that the debt was of the year 2004, when the management was with Singhania Group, and the present management (Sarda Group) took over in 2007. The corporate debtor also claimed that a suit (O.S. No.500 of 2017) titled "GEO Jute Limited Vs. Union of India" was pending adjudication, indicating a pre-existing dispute. The corporate debtor further argued that the invoices were not valid as they were not on the
…Operational Creditor…
Sarda Group took over…