The case involves a petition filed by Arihant Packers, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Krushna Cotex Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payments for goods supplied, leading to a default exceeding the minimum threshold specified under the IBC. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
Arihant Packers, a Hindu Undivided Family (HUF) represented by its Karta, Mr. Vijay Tatiya, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), against Krushna Cotex Private Limited, the Corporate Debtor. Krushna Cotex Private Limited was incorporated on 30.03.2007 under the Companies Act, 1956. Arihant Packers supplied Paper Corrugated Box, Folders, Ply Plain Pasted Cartons etc. to Krushna Cotex Private Limited. The Corporate Debtor failed to make payment of Rs. 4,39,963.00 for invoices raised between 18.11.2016 and 26.12.2016. The Operational Creditor served a Demand Notice in Form 3 dated 17.07.2018, delivered on 23.07.2018. The Corporate Debtor made partial payments of Rs. 2,00,000/- on 24.07.2018 and Rs. 2,00,000/- on
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Krushna Cotex Private…
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The case involves a petition filed by Arihant Packers, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Krushna Cotex Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to make payments for goods supplied, leading to a default exceeding the minimum threshold specified under the IBC. The petition was filed before the National Company Law Tribunal (NCLT), Mumbai Bench.
Arihant Packers, a Hindu Undivided Family (HUF) represented by its Karta, Mr. Vijay Tatiya, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC), against Krushna Cotex Private Limited, the Corporate Debtor. Krushna Cotex Private Limited was incorporated on 30.03.2007 under the Companies Act, 1956. Arihant Packers supplied Paper Corrugated Box, Folders, Ply Plain Pasted Cartons etc. to Krushna Cotex Private Limited. The Corporate Debtor failed to make payment of Rs. 4,39,963.00 for invoices raised between 18.11.2016 and 26.12.2016. The Operational Creditor served a Demand Notice in Form 3 dated 17.07.2018, delivered on 23.07.2018. The Corporate Debtor made partial payments of Rs. 2,00,000/- on 24.07.2018 and Rs. 2,00,000/- on
…Krushna Cotex Private…
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