The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Trust Commodities Pvt. Ltd. (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Nuova Proteins Private Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied. A demand notice was served, but no reply or payment was received from the corporate debtor. The Adjudicating Authority considered whether the demand notice was properly served, whether the debt was disputed, and whether the application was filed within the limitation period.
M/s Trust Commodities Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Nuova Proteins Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that it supplied goods, including Bajra and Soya Doc PP Bags, to the Corporate Debtor between 08.01.2018 and 21.03.2018, totaling ₹29,14,868/-. The Corporate Debtor made partial payments, leaving an outstanding amount of ₹3,15,506/-. The Operational Creditor also levied interest on the delayed payment, bringing the total debt to ₹4,33,454/-. A demand notice dated 25.04.2019 was served on the Corporate Debtor on 02.05.2019, calling for repayment within 10 days. The Corporate Debtor did not
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Operational creditor supplied goods to the…
Demand notice in Form 3…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Trust Commodities Pvt. Ltd. (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Nuova Proteins Private Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied. A demand notice was served, but no reply or payment was received from the corporate debtor. The Adjudicating Authority considered whether the demand notice was properly served, whether the debt was disputed, and whether the application was filed within the limitation period.
M/s Trust Commodities Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Nuova Proteins Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that it supplied goods, including Bajra and Soya Doc PP Bags, to the Corporate Debtor between 08.01.2018 and 21.03.2018, totaling ₹29,14,868/-. The Corporate Debtor made partial payments, leaving an outstanding amount of ₹3,15,506/-. The Operational Creditor also levied interest on the delayed payment, bringing the total debt to ₹4,33,454/-. A demand notice dated 25.04.2019 was served on the Corporate Debtor on 02.05.2019, calling for repayment within 10 days. The Corporate Debtor did not
…Operational creditor supplied goods to the…
Demand notice in Form 3…