M/s. Dinesh Sanitary Store, the operational creditor/petitioner, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Krishna Estate Developers Private Limited, the corporate debtor/respondent. The operational creditor claimed that the corporate debtor defaulted on payments for sanitary products supplied, with an outstanding amount of INR 15,74,244/- as of 30.06.2019, including interest. The corporate debtor contested the claim, alleging discrepancies in the statement of account, unsatisfactory quality of goods, and prior cash payments not reflected in the
…M/s. Dinesh Sanitary Store (Operational Creditor) claimed that Krishna Estate Developers Private Limited (Corporate Debtor) owed INR 15,74,244/- as of 30.06.2019 for supplied sanitary products. A demand notice was sent on 2019-06-28 under Section 8 of the Insolvency and Bankruptcy Code. The Corporate Debtor replied on 2019-07-09, denying liability, asserting cash payments and unsatisfactory goods quality. The Corporate Debtor's bank accounts were suspended since 2017-09-12. The Corporate Debtor claimed to have made cash payments to the Petitioner, evidenced by Annexures B, C, and D. The Corporate Debtor argued that the Operational Creditor concealed material facts and that only Rs. 1,15,629/- was due. The Operational Creditor did not propose an Interim Resolution
…Sign in to view the parties.
The petitioner sent a…
The Corporate Debtor…
M/s. Dinesh Sanitary Store, the operational creditor/petitioner, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Krishna Estate Developers Private Limited, the corporate debtor/respondent. The operational creditor claimed that the corporate debtor defaulted on payments for sanitary products supplied, with an outstanding amount of INR 15,74,244/- as of 30.06.2019, including interest. The corporate debtor contested the claim, alleging discrepancies in the statement of account, unsatisfactory quality of goods, and prior cash payments not reflected in the
…M/s. Dinesh Sanitary Store (Operational Creditor) claimed that Krishna Estate Developers Private Limited (Corporate Debtor) owed INR 15,74,244/- as of 30.06.2019 for supplied sanitary products. A demand notice was sent on 2019-06-28 under Section 8 of the Insolvency and Bankruptcy Code. The Corporate Debtor replied on 2019-07-09, denying liability, asserting cash payments and unsatisfactory goods quality. The Corporate Debtor's bank accounts were suspended since 2017-09-12. The Corporate Debtor claimed to have made cash payments to the Petitioner, evidenced by Annexures B, C, and D. The Corporate Debtor argued that the Operational Creditor concealed material facts and that only Rs. 1,15,629/- was due. The Operational Creditor did not propose an Interim Resolution
…The petitioner sent a…
The Corporate Debtor…