Sanjay Chemicals (India) Pvt. Ltd. filed a Company Petition under Sections 8 & 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Leedskem (India) Limited. The petitioner claimed that Leedskem (India) Limited, the Corporate Debtor, defaulted on payments amounting to Rs. 19,72,445, which included interest at 21% per annum on delayed payments. The default occurred on 17.04.2016.
Sanjay Chemicals (India) Pvt. Ltd. (the Petitioner) filed a petition against Leedskem (India) Limited (the Corporate Debtor) under Sections 8 & 9 of the IBC, 2016. The Petitioner claimed that the Corporate Debtor defaulted on a payment of Rs. 19,72,445, including interest at 21% p.a., with the default occurring on 17.04.2016. The Petitioner issued a demand notice on 25.07.2018, seeking Rs. 12,91,727 as principal and Rs. 6,80,718 as interest. The Corporate Debtor's counsel admitted the debt and default. The Petitioner is engaged in the business of making various types of chemicals, while the Corporate Debtor is in the field of manufacturing chemicals such as drug intermediates, active pharma ingredients, and fine chemicals.
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Sanjay Chemicals (India) Pvt. Ltd. filed a Company Petition under Sections 8 & 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Leedskem (India) Limited. The petitioner claimed that Leedskem (India) Limited, the Corporate Debtor, defaulted on payments amounting to Rs. 19,72,445, which included interest at 21% per annum on delayed payments. The default occurred on 17.04.2016.
Sanjay Chemicals (India) Pvt. Ltd. (the Petitioner) filed a petition against Leedskem (India) Limited (the Corporate Debtor) under Sections 8 & 9 of the IBC, 2016. The Petitioner claimed that the Corporate Debtor defaulted on a payment of Rs. 19,72,445, including interest at 21% p.a., with the default occurring on 17.04.2016. The Petitioner issued a demand notice on 25.07.2018, seeking Rs. 12,91,727 as principal and Rs. 6,80,718 as interest. The Corporate Debtor's counsel admitted the debt and default. The Petitioner is engaged in the business of making various types of chemicals, while the Corporate Debtor is in the field of manufacturing chemicals such as drug intermediates, active pharma ingredients, and fine chemicals.
Corporate Debtor…
Petitioner…