The case involves an application filed by J.D. (India) Corporation, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against Naresh Retail Mart LLP, the corporate debtor. J.D. (India) Corporation claimed that Naresh Retail Mart LLP owed them a debt related to the supply of ready-made garments. The operational creditor stated that the corporate debtor had issued cheques that were dishonored, and a demand notice was served, but no reply was received.
J.D. (India) Corporation, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against Naresh Retail Mart LLP, the corporate debtor. J.D. (India) Corporation is engaged in the business of ready-made garments and had been supplying garments to Naresh Retail Mart LLP since September 2017. The corporate debtor issued 8 cheques amounting to Rs. 34,89,073/- which were dishonored due to 'Funds Insufficient'. The operational creditor claimed a total outstanding amount of Rs. 44,75,578/-, including interest, as of November 2018. A demand notice under Section 8 of the Code was issued on December 5, 2018, and delivered on December 10, 2018, but the corporate debtor did not
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J.D. (India) Corporation…
The outstanding amount, including interest,…
The case involves an application filed by J.D. (India) Corporation, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against Naresh Retail Mart LLP, the corporate debtor. J.D. (India) Corporation claimed that Naresh Retail Mart LLP owed them a debt related to the supply of ready-made garments. The operational creditor stated that the corporate debtor had issued cheques that were dishonored, and a demand notice was served, but no reply was received.
J.D. (India) Corporation, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against Naresh Retail Mart LLP, the corporate debtor. J.D. (India) Corporation is engaged in the business of ready-made garments and had been supplying garments to Naresh Retail Mart LLP since September 2017. The corporate debtor issued 8 cheques amounting to Rs. 34,89,073/- which were dishonored due to 'Funds Insufficient'. The operational creditor claimed a total outstanding amount of Rs. 44,75,578/-, including interest, as of November 2018. A demand notice under Section 8 of the Code was issued on December 5, 2018, and delivered on December 10, 2018, but the corporate debtor did not
…J.D. (India) Corporation…
The outstanding amount, including interest,…