The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Narshing Vinimay Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleged that the Corporate Debtor defaulted in payment of Rs. 3,34,137/- for goods delivered. The Corporate Debtor had placed orders for Knitted Hosiery Fabrics in September 2014, and the Operational Creditor supplied the goods. The Corporate Debtor made partial payments, but a balance remained outstanding.
In September 2014, Narshing Vinimay Private Limited (Corporate Debtor) placed orders with Bijoy Kumar Sarda, M/s. Enterprise International (Operational Creditor), for Knitted Hosiery Fabrics. The Operational Creditor supplied the goods as per the Corporate Debtor's specifications. The Corporate Debtor received the goods without objection. The Operational Creditor raised invoices dated 22.09.2014 and 15.10.2014, totaling Rs. 12,12,522/-. The Corporate Debtor failed to make full payment within the agreed time but paid Rs. 8,78,385/- through several cheques, some of which were dishonored. The outstanding balance was Rs. 3,34,137/-. The Operational Creditor claimed interest at 18% per annum from 23.09.2014, amounting to Rs. 2,55,516.34. The Operational Creditor issued a
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The Corporate Debtor placed orders for…
Operational C…
The case involves an application filed by Bijoy Kumar Sarda, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Narshing Vinimay Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleged that the Corporate Debtor defaulted in payment of Rs. 3,34,137/- for goods delivered. The Corporate Debtor had placed orders for Knitted Hosiery Fabrics in September 2014, and the Operational Creditor supplied the goods. The Corporate Debtor made partial payments, but a balance remained outstanding.
In September 2014, Narshing Vinimay Private Limited (Corporate Debtor) placed orders with Bijoy Kumar Sarda, M/s. Enterprise International (Operational Creditor), for Knitted Hosiery Fabrics. The Operational Creditor supplied the goods as per the Corporate Debtor's specifications. The Corporate Debtor received the goods without objection. The Operational Creditor raised invoices dated 22.09.2014 and 15.10.2014, totaling Rs. 12,12,522/-. The Corporate Debtor failed to make full payment within the agreed time but paid Rs. 8,78,385/- through several cheques, some of which were dishonored. The outstanding balance was Rs. 3,34,137/-. The Operational Creditor claimed interest at 18% per annum from 23.09.2014, amounting to Rs. 2,55,516.34. The Operational Creditor issued a
…The Corporate Debtor placed orders for…
Operational C…