JJ Plastalloys Private Limited filed a petition as an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to pay outstanding dues for supplied goods. Notices were issued to the corporate debtor, but they were returned unserved with remarks such as 'company is closed' or 'no resident at the bungalow'.
JJ Plastalloys Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 11,85,821/- for goods supplied under two invoices dated October 20, 2016, and November 4, 2016. Despite repeated reminders, the corporate debtor failed to pay the outstanding amount. The operational creditor issued a demand notice dated September 6, 2017, as required under Section 8 of the IB Code, but the corporate debtor did not respond. Notices sent to the corporate debtor were returned unserved with remarks such as 'company is closed' or 'no
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Operational creditor…
Operational creditor…
JJ Plastalloys Private Limited filed a petition as an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor failed to pay outstanding dues for supplied goods. Notices were issued to the corporate debtor, but they were returned unserved with remarks such as 'company is closed' or 'no resident at the bungalow'.
JJ Plastalloys Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meridian Extrusions Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 11,85,821/- for goods supplied under two invoices dated October 20, 2016, and November 4, 2016. Despite repeated reminders, the corporate debtor failed to pay the outstanding amount. The operational creditor issued a demand notice dated September 6, 2017, as required under Section 8 of the IB Code, but the corporate debtor did not respond. Notices sent to the corporate debtor were returned unserved with remarks such as 'company is closed' or 'no
…Operational creditor…
Operational creditor…