The case involves an application by Sri Raam Gowri Hi-Tech Polymers Pvt Ltd, the Operational Creditor, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Miltech Industries Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed an outstanding operational debt of Rs. 21,74,902.17/- arising from transactions between September 2016 and January 2017, where the Operational Creditor supplied engineering plastic raw material to the Corporate Debtor. A demand notice was issued on 05.03.2019, but the Corporate Debtor failed to respond or make payment.
Sri Raam Gowri Hi-Tech Polymers Pvt Ltd, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s Miltech Industries Pvt Ltd, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 21,74,902.17/-. The transactions between the parties occurred from September 2016 to January 2017, during which the Operational Creditor supplied engineering plastic raw material to the Corporate Debtor based on purchase orders. A demand notice was served on the Corporate Debtor on 05.03.2019. The Corporate Debtor failed to file any reply to the demand notice or the Company Petition, despite being given ample opportunity. The Corporate Debtor also failed to comply with a conditional
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The case involves an application by Sri Raam Gowri Hi-Tech Polymers Pvt Ltd, the Operational Creditor, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Miltech Industries Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed an outstanding operational debt of Rs. 21,74,902.17/- arising from transactions between September 2016 and January 2017, where the Operational Creditor supplied engineering plastic raw material to the Corporate Debtor. A demand notice was issued on 05.03.2019, but the Corporate Debtor failed to respond or make payment.
Sri Raam Gowri Hi-Tech Polymers Pvt Ltd, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s Miltech Industries Pvt Ltd, the Corporate Debtor. The Operational Creditor claimed an outstanding debt of Rs. 21,74,902.17/-. The transactions between the parties occurred from September 2016 to January 2017, during which the Operational Creditor supplied engineering plastic raw material to the Corporate Debtor based on purchase orders. A demand notice was served on the Corporate Debtor on 05.03.2019. The Corporate Debtor failed to file any reply to the demand notice or the Company Petition, despite being given ample opportunity. The Corporate Debtor also failed to comply with a conditional
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Transactions between…