The case involves a petition filed by M/s Surendra Trading Company, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited, the corporate debtor. The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, and this debt was outstanding as of 31.03.2004. The corporate debtor raised objections, stating that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.
M/s Surendra Trading Company (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited (corporate debtor). The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, with the debt outstanding as of 31.03.2004. The operational creditor submitted invoices and a certificate of debt to support the claim. The corporate debtor objected to the petition, arguing that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.
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Operational creditor…
Demand notice i…
The case involves a petition filed by M/s Surendra Trading Company, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited, the corporate debtor. The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, and this debt was outstanding as of 31.03.2004. The corporate debtor raised objections, stating that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.
M/s Surendra Trading Company (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Juggilal Kamlpat Jute Mills Company Limited (corporate debtor). The operational creditor claimed that goods worth Rs. 17,06,766/- were sold and delivered to the corporate debtor, with the debt outstanding as of 31.03.2004. The operational creditor submitted invoices and a certificate of debt to support the claim. The corporate debtor objected to the petition, arguing that the claim was based on invoices from 2001-2004, the company was registered with BIFR, the claim was barred by limitation, and the invoices were not valid as they lacked proper signatures and letterheads.
…Operational creditor…
Demand notice i…