The petition was filed by Toll Global Forwarding (India) Private Limited, the Operational Creditor, against Marvel Craft Private Ltd., the Corporate Debtor, for its inability to liquidate an operational debt. The Operational Creditor provided logistic services for shipping goods of the Corporate Debtor until June 2015, when the last invoice was raised. The total liability claimed was Rs. 8,07,403/-. The Corporate Debtor issued two cheques towards part payment, which were dishonoured. A payment of Rs. 1,54,481/- was made by the Corporate Debtor on July 30, 2015. The Operational Creditor issued a demand notice dated March 13, 2018, under Section 8 of the IBC, which was not replied to.
Toll Global Forwarding (India) Private Limited (Operational Creditor) filed a petition against Marvel Craft Private Ltd. (Corporate Debtor) for failing to pay an operational debt. The Operational Creditor provided logistic services for shipping the Corporate Debtor's goods until June 2015, with a total outstanding amount of Rs. 8,07,403/-. The Corporate Debtor issued two cheques for part payment, but they were dishonoured. A further payment of Rs. 1,54,481/- was made on July 30, 2015. The Operational Creditor issued a demand notice on March 13, 2018, under Section 8 of the IBC, which was not replied to. The Corporate Debtor argued that the liability rested with their buyers, as the freight was on a 'collect' basis. The court noted the absence of any prior dispute and
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The Operational Creditor provided logistic…
The Corporate Debtor…
The petition was filed by Toll Global Forwarding (India) Private Limited, the Operational Creditor, against Marvel Craft Private Ltd., the Corporate Debtor, for its inability to liquidate an operational debt. The Operational Creditor provided logistic services for shipping goods of the Corporate Debtor until June 2015, when the last invoice was raised. The total liability claimed was Rs. 8,07,403/-. The Corporate Debtor issued two cheques towards part payment, which were dishonoured. A payment of Rs. 1,54,481/- was made by the Corporate Debtor on July 30, 2015. The Operational Creditor issued a demand notice dated March 13, 2018, under Section 8 of the IBC, which was not replied to.
Toll Global Forwarding (India) Private Limited (Operational Creditor) filed a petition against Marvel Craft Private Ltd. (Corporate Debtor) for failing to pay an operational debt. The Operational Creditor provided logistic services for shipping the Corporate Debtor's goods until June 2015, with a total outstanding amount of Rs. 8,07,403/-. The Corporate Debtor issued two cheques for part payment, but they were dishonoured. A further payment of Rs. 1,54,481/- was made on July 30, 2015. The Operational Creditor issued a demand notice on March 13, 2018, under Section 8 of the IBC, which was not replied to. The Corporate Debtor argued that the liability rested with their buyers, as the freight was on a 'collect' basis. The court noted the absence of any prior dispute and
…The Operational Creditor provided logistic…
The Corporate Debtor…