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. After reconciliation, the Operational Creditor claimed an outstanding amount of Rs. 46,41,122 as of October 11, 2016. Despite repeated requests, the Corporate Debtor failed to make the payments and issued two dishonored cheques in October 2017. The Corporate Debtor acknowledged the debt via email in December 2017, citing financial
…Arihant Techno Pack Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Matashree Snacks Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor supplied packaging films to the Corporate Debtor from January 2016 to July 2016. As of October 11, 2016, the Corporate Debtor owed Rs. 46,41,122 to the Operational Creditor. The Corporate Debtor issued two cheques dated October 10, 2017 (Rs. 10,00,000) and October 25, 2017 (Rs. 14,76,178) which were dishonored. The Corporate Debtor acknowledged the debt in an email dated December 7, 2017, citing financial difficulties due to demonetization and GST. The Operational Creditor filed
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Arihant Techno Pack Private Limited supplied…
As of October 11, 2016, Matashree Snacks…
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. After reconciliation, the Operational Creditor claimed an outstanding amount of Rs. 46,41,122 as of October 11, 2016. Despite repeated requests, the Corporate Debtor failed to make the payments and issued two dishonored cheques in October 2017. The Corporate Debtor acknowledged the debt via email in December 2017, citing financial
…Arihant Techno Pack Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Matashree Snacks Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor supplied packaging films to the Corporate Debtor from January 2016 to July 2016. As of October 11, 2016, the Corporate Debtor owed Rs. 46,41,122 to the Operational Creditor. The Corporate Debtor issued two cheques dated October 10, 2017 (Rs. 10,00,000) and October 25, 2017 (Rs. 14,76,178) which were dishonored. The Corporate Debtor acknowledged the debt in an email dated December 7, 2017, citing financial difficulties due to demonetization and GST. The Operational Creditor filed
…Arihant Techno Pack Private Limited supplied…
As of October 11, 2016, Matashree Snacks…