The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Arihant Techno Pack Private Limited (Operational Creditor) against Matashree Snacks Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for packaging films supplied between January 2016 and July 2016. The Corporate Debtor allegedly acknowledged the debt through an email dated December 7, 2017, after the dishonor of two cheques issued in October 2017.
Arihant Techno Pack Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Matashree Snacks Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor supplied packaging films to the Corporate Debtor between January 2016 and July 2016. The Corporate Debtor failed to make full payment for the supplied goods. As of October 11, 2016, the outstanding amount was Rs. 46,41,122/-. The Corporate Debtor issued two cheques in October 2017 totaling Rs. 24,76,178/-, which were dishonored due to financial stress. The Corporate Debtor acknowledged the debt via email on December 7, 2017, promising to clear the dues in January and February 2018, along with interest at 12% p.a. The
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Operational Creditor supplied packaging films…
The outstanding amount…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Arihant Techno Pack Private Limited (Operational Creditor) against Matashree Snacks Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for packaging films supplied between January 2016 and July 2016. The Corporate Debtor allegedly acknowledged the debt through an email dated December 7, 2017, after the dishonor of two cheques issued in October 2017.
Arihant Techno Pack Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Matashree Snacks Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor supplied packaging films to the Corporate Debtor between January 2016 and July 2016. The Corporate Debtor failed to make full payment for the supplied goods. As of October 11, 2016, the outstanding amount was Rs. 46,41,122/-. The Corporate Debtor issued two cheques in October 2017 totaling Rs. 24,76,178/-, which were dishonored due to financial stress. The Corporate Debtor acknowledged the debt via email on December 7, 2017, promising to clear the dues in January and February 2018, along with interest at 12% p.a. The
…Operational Creditor supplied packaging films…
The outstanding amount…