The case involves a petition filed by Surinder Manchanda, proprietor of Sonu Trading Company, against Noslar International Ltd. for initiating the Corporate Insolvency Resolution Process (CIRP). Sonu Trading Company claimed that Noslar International Ltd., a corporate debtor, failed to pay for goods supplied under a purchase order. The business transactions between the parties were smooth until recently when the goods despatched against confirmed order were not paid for by the Corporate Debtor. The outstanding claim is for the goods supplied under the purchase order-PO No. NPR017001161 dated 02.01.2018.
Surinder Manchanda, proprietor of Sonu Trading Company, filed a petition against Noslar International Ltd. for initiating CIRP due to unpaid dues for goods supplied. Sonu Trading Company is engaged in the supply of raw rubber to tyre companies. Noslar International Ltd. was a customer of Sonu Trading Company for over a decade. The outstanding claim is for goods supplied under purchase order NPR017001161 dated 02.01.2018, with the material supplied via Invoice No. STCG095 dated 04.01.2018. The total value of the goods was Rs. 27,35,744/-. The purchase order stipulated payment within 30 days of the invoice, but not later than 90 days. Noslar International Ltd. failed to make the payment, and the outstanding liability was confirmed by them in a balance confirmation letter
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Purchase ord…
Invoice No. STCG095 was…
The case involves a petition filed by Surinder Manchanda, proprietor of Sonu Trading Company, against Noslar International Ltd. for initiating the Corporate Insolvency Resolution Process (CIRP). Sonu Trading Company claimed that Noslar International Ltd., a corporate debtor, failed to pay for goods supplied under a purchase order. The business transactions between the parties were smooth until recently when the goods despatched against confirmed order were not paid for by the Corporate Debtor. The outstanding claim is for the goods supplied under the purchase order-PO No. NPR017001161 dated 02.01.2018.
Surinder Manchanda, proprietor of Sonu Trading Company, filed a petition against Noslar International Ltd. for initiating CIRP due to unpaid dues for goods supplied. Sonu Trading Company is engaged in the supply of raw rubber to tyre companies. Noslar International Ltd. was a customer of Sonu Trading Company for over a decade. The outstanding claim is for goods supplied under purchase order NPR017001161 dated 02.01.2018, with the material supplied via Invoice No. STCG095 dated 04.01.2018. The total value of the goods was Rs. 27,35,744/-. The purchase order stipulated payment within 30 days of the invoice, but not later than 90 days. Noslar International Ltd. failed to make the payment, and the outstanding liability was confirmed by them in a balance confirmation letter
…Purchase ord…
Invoice No. STCG095 was…