Smt. Yogitha Vijaykumar, Proprietor of Shree Ratna Farm Products, filed C.P. (IB) No.02/BB/2020 under Section 9 of the I&B Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. The Maylari Agro Products Ltd. The application was based on the Corporate Debtor's alleged default of Rs. 16,24,677/-. The Operational Creditor claimed to have supplied rice to the Corporate Debtor, raised invoices, and sent a demand notice after non-payment. The Adjudicating Authority admitted the petition, initiated CIRP, appointed an Interim Resolution Professional (IRP), and declared a moratorium.
Smt. Yogitha Vijaykumar, operating as Shree Ratna Farm Products, is an Operational Creditor involved in supplying rice and dry grapes. M/s. The Maylari Agro Products Ltd., the Corporate Debtor, is a company incorporated on June 21, 2016, engaged in manufacturing and wholesale trading of tea, coffee, spices, and other food products. The Operational Creditor supplied rice to the Corporate Debtor and raised invoices No.138201920 dated 07.06.2019 for Rs.8,19,000/- and No.146201920 dated 13.07.2019. The Corporate Debtor accepted these invoices as an admission of liability. A demand notice dated 30.08.2019 was sent to the Corporate Debtor demanding payment of Rs.13,83,650/-, but the Corporate Debtor failed to make the outstanding payments, leading to the filing of C.P. (IB)
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M/s. The Mayla…
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Smt. Yogitha Vijaykumar, Proprietor of Shree Ratna Farm Products, filed C.P. (IB) No.02/BB/2020 under Section 9 of the I&B Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. The Maylari Agro Products Ltd. The application was based on the Corporate Debtor's alleged default of Rs. 16,24,677/-. The Operational Creditor claimed to have supplied rice to the Corporate Debtor, raised invoices, and sent a demand notice after non-payment. The Adjudicating Authority admitted the petition, initiated CIRP, appointed an Interim Resolution Professional (IRP), and declared a moratorium.
Smt. Yogitha Vijaykumar, operating as Shree Ratna Farm Products, is an Operational Creditor involved in supplying rice and dry grapes. M/s. The Maylari Agro Products Ltd., the Corporate Debtor, is a company incorporated on June 21, 2016, engaged in manufacturing and wholesale trading of tea, coffee, spices, and other food products. The Operational Creditor supplied rice to the Corporate Debtor and raised invoices No.138201920 dated 07.06.2019 for Rs.8,19,000/- and No.146201920 dated 13.07.2019. The Corporate Debtor accepted these invoices as an admission of liability. A demand notice dated 30.08.2019 was sent to the Corporate Debtor demanding payment of Rs.13,83,650/-, but the Corporate Debtor failed to make the outstanding payments, leading to the filing of C.P. (IB)
…M/s. The Mayla…
Operational Creditor…
Sign in to view related legal provisions.