Vicky Enterprises filed an Insolvency and Bankruptcy Petition against Om Printing & Flexible Packaging Private Ltd., seeking to invoke the Corporate Insolvency Resolution process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed due to the Corporate Debtor's default in making payments to the extent of ₹25,74,835/-. The Petitioner claimed that invoices were raised against the Corporate Debtor for ₹25,74,835/-, which remained unpaid. A demand notice was issued on 2018-10-05, but the Corporate Debtor failed to reply or pay the amount.
Vicky Enterprises (Petitioner) filed an insolvency petition against Om Printing & Flexible Packaging Private Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The basis for the petition was the Corporate Debtor's failure to pay ₹25,74,835/- against invoices raised by the Petitioner. The Petitioner issued a demand notice on 2018-10-05, seeking the outstanding amount along with interest at 18%. The Corporate Debtor did not respond to the notice and failed to pay the due amount. The Corporate Debtor admitted the debt and default. The Petitioner did not press for interest on the outstanding amount.
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Vicky Enterprises issued a demand notice to Om…
The NCLT admitted the…
Vicky Enterprises filed an Insolvency and Bankruptcy Petition against Om Printing & Flexible Packaging Private Ltd., seeking to invoke the Corporate Insolvency Resolution process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed due to the Corporate Debtor's default in making payments to the extent of ₹25,74,835/-. The Petitioner claimed that invoices were raised against the Corporate Debtor for ₹25,74,835/-, which remained unpaid. A demand notice was issued on 2018-10-05, but the Corporate Debtor failed to reply or pay the amount.
Vicky Enterprises (Petitioner) filed an insolvency petition against Om Printing & Flexible Packaging Private Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The basis for the petition was the Corporate Debtor's failure to pay ₹25,74,835/- against invoices raised by the Petitioner. The Petitioner issued a demand notice on 2018-10-05, seeking the outstanding amount along with interest at 18%. The Corporate Debtor did not respond to the notice and failed to pay the due amount. The Corporate Debtor admitted the debt and default. The Petitioner did not press for interest on the outstanding amount.
Vicky Enterprises issued a demand notice to Om…
The NCLT admitted the…