The case involves an application filed by Globelink WW India Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against MTK Tooling & Engineering Private Limited (Corporate Debtor). The Operational Creditor provided logistics services to the Corporate Debtor, transporting goods from Seoul, South Korea to Mumbai. Invoices were raised on 13.06.2011 and 24.06.2011, but the Corporate Debtor allegedly failed to pay the outstanding amount. The Corporate Debtor's goods were lying in the Customs Department, Mumbai, and the Operational Creditor cleared the goods at the Corporate Debtor's request. Despite repeated reminders and a statutory demand notice, the Corporate
…Globelink WW India Pvt. Ltd. (Operational Creditor) provided logistics services to MTK Tooling & Engineering Private Limited (Corporate Debtor), transporting Hot Runner Controller Sets from Seoul, South Korea to Mumbai. The Operational Creditor raised invoices on 13.06.2011 for ₹4,82,325/- and on 24.06.2011 for ₹48,629/-. The Corporate Debtor's goods were lying in the Customs Department, Mumbai, and the Operational Creditor cleared the goods at the Corporate Debtor's request. The Corporate Debtor made a payment of ₹3,00,000/- on 07.06.2011, but the balance amount of ₹2,30,954/- remained unpaid. The Corporate Debtor sought time for payment, but the payment was not forthcoming. The Operational Creditor sent a Statutory Demand Notice to the Corporate Debtor on
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Operational Creditor…
Operational Creditor…
The case involves an application filed by Globelink WW India Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against MTK Tooling & Engineering Private Limited (Corporate Debtor). The Operational Creditor provided logistics services to the Corporate Debtor, transporting goods from Seoul, South Korea to Mumbai. Invoices were raised on 13.06.2011 and 24.06.2011, but the Corporate Debtor allegedly failed to pay the outstanding amount. The Corporate Debtor's goods were lying in the Customs Department, Mumbai, and the Operational Creditor cleared the goods at the Corporate Debtor's request. Despite repeated reminders and a statutory demand notice, the Corporate
…Globelink WW India Pvt. Ltd. (Operational Creditor) provided logistics services to MTK Tooling & Engineering Private Limited (Corporate Debtor), transporting Hot Runner Controller Sets from Seoul, South Korea to Mumbai. The Operational Creditor raised invoices on 13.06.2011 for ₹4,82,325/- and on 24.06.2011 for ₹48,629/-. The Corporate Debtor's goods were lying in the Customs Department, Mumbai, and the Operational Creditor cleared the goods at the Corporate Debtor's request. The Corporate Debtor made a payment of ₹3,00,000/- on 07.06.2011, but the balance amount of ₹2,30,954/- remained unpaid. The Corporate Debtor sought time for payment, but the payment was not forthcoming. The Operational Creditor sent a Statutory Demand Notice to the Corporate Debtor on
…Operational Creditor…
Operational Creditor…