M/s Ashok Kumar and Brothers, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against K.T.C Foods Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of paddy. The corporate debtor was incorporated on 17.01.2012. The operational creditor stated that they regularly supplied paddy to the corporate debtor from 2012, with the last consignment delivered on 09.11.2015. Payments became irregular from April 2017, and a cheque issued by the corporate debtor on 30.12.2017 bounced. The last payment was made on 04.04.2018. The petitioner also submitted ledger accounts from
…M/s Ashok Kumar and Brothers, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against K.T.C Foods Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in payment of ₹3,43,21,069/-. The Corporate Debtor was incorporated on 17.01.2012. The operational creditor had been supplying paddy to the corporate debtor since 2012, with the last supply on 09.11.2015. Payments became irregular from April 2017. A cheque for ₹20,00,000/- issued by the corporate debtor on 30.12.2017 bounced, with a dishonor memo dated 28.03.2018. The last payment made by the corporate debtor was on 04.04.2018 for ₹5,00,000/-.
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K.T.C Foods P…
M/s Ashok Kumar and…
M/s Ashok Kumar and Brothers, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against K.T.C Foods Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for the supply of paddy. The corporate debtor was incorporated on 17.01.2012. The operational creditor stated that they regularly supplied paddy to the corporate debtor from 2012, with the last consignment delivered on 09.11.2015. Payments became irregular from April 2017, and a cheque issued by the corporate debtor on 30.12.2017 bounced. The last payment was made on 04.04.2018. The petitioner also submitted ledger accounts from
…M/s Ashok Kumar and Brothers, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against K.T.C Foods Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in payment of ₹3,43,21,069/-. The Corporate Debtor was incorporated on 17.01.2012. The operational creditor had been supplying paddy to the corporate debtor since 2012, with the last supply on 09.11.2015. Payments became irregular from April 2017. A cheque for ₹20,00,000/- issued by the corporate debtor on 30.12.2017 bounced, with a dishonor memo dated 28.03.2018. The last payment made by the corporate debtor was on 04.04.2018 for ₹5,00,000/-.
…K.T.C Foods P…
M/s Ashok Kumar and…