The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, filed by M/s. ONS Impex Traders Pvt. Ltd. (Operational Creditor) against M/s. NSD Global Trade Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed non-payment for PVB films supplied to the Corporate Debtor. The Operational Creditor issued a demand notice, but the Corporate Debtor failed to raise any dispute or objection.
M/s. ONS Impex Traders Pvt. Ltd. (Operational Creditor) filed a petition against M/s. NSD Global Trade Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of operational debt. The Operational Creditor supplied PVB Films to the Corporate Debtor, but the Corporate Debtor failed to pay the due amount from December 14, 2015. The total principal amount in default was Rs. 14,76,128/-. The Operational Creditor also claimed interest on the unpaid amount at 24% p.a., amounting to Rs. 3,54,271/-. The Operational Creditor issued 7 sales invoices totaling Rs. 18,44,025/-, but only received a payment of Rs. 50,000/-. A demand notice was issued on June 10, 2017, but the packet was returned with the remark "LEFT". The
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The Petitioner furnished Form No. 5 under…
The Petitioner issued a Demand Notice dated 10th…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, filed by M/s. ONS Impex Traders Pvt. Ltd. (Operational Creditor) against M/s. NSD Global Trade Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed non-payment for PVB films supplied to the Corporate Debtor. The Operational Creditor issued a demand notice, but the Corporate Debtor failed to raise any dispute or objection.
M/s. ONS Impex Traders Pvt. Ltd. (Operational Creditor) filed a petition against M/s. NSD Global Trade Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of operational debt. The Operational Creditor supplied PVB Films to the Corporate Debtor, but the Corporate Debtor failed to pay the due amount from December 14, 2015. The total principal amount in default was Rs. 14,76,128/-. The Operational Creditor also claimed interest on the unpaid amount at 24% p.a., amounting to Rs. 3,54,271/-. The Operational Creditor issued 7 sales invoices totaling Rs. 18,44,025/-, but only received a payment of Rs. 50,000/-. A demand notice was issued on June 10, 2017, but the packet was returned with the remark "LEFT". The
…The Petitioner furnished Form No. 5 under…
The Petitioner issued a Demand Notice dated 10th…