The case involves a Company Petition filed by Mr. Rahul Jhaveri, the sole proprietor of Shanaya Fashions, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Oneworld Creations Pvt. Ltd. The petitioner alleges that Oneworld Creations Pvt. Ltd, the Corporate Debtor, defaulted on a payment of Rs. 11,98,52,570/- on 05.04.2018.
Mr. Rahul Jhaveri, the sole proprietor of Shanaya Fashions, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Oneworld Creations Pvt. Ltd. The basis for the petition is the alleged default by Oneworld Creations Pvt. Ltd. (the Corporate Debtor) in making a payment of Rs. 11,98,52,570/-. The default occurred on 05.04.2018. Shanaya Fashions supplied fabrics to the Corporate Debtor from 22.12.2017 to 05.04.2018, raising invoices for Rs. 11,98,52,570/-. The Petitioner issued a demand notice on 09.05.2018 under section 8 of the IB Code. The Corporate Debtor replied on 11.05.2018, stating their clients defaulted in payments to them. The Corporate Debtor's counsel admitted the debt and default and expressed no objection to
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Shanaya Fashions…
Shanaya Fashions stopped supplying fabrics to…
The case involves a Company Petition filed by Mr. Rahul Jhaveri, the sole proprietor of Shanaya Fashions, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Oneworld Creations Pvt. Ltd. The petitioner alleges that Oneworld Creations Pvt. Ltd, the Corporate Debtor, defaulted on a payment of Rs. 11,98,52,570/- on 05.04.2018.
Mr. Rahul Jhaveri, the sole proprietor of Shanaya Fashions, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Oneworld Creations Pvt. Ltd. The basis for the petition is the alleged default by Oneworld Creations Pvt. Ltd. (the Corporate Debtor) in making a payment of Rs. 11,98,52,570/-. The default occurred on 05.04.2018. Shanaya Fashions supplied fabrics to the Corporate Debtor from 22.12.2017 to 05.04.2018, raising invoices for Rs. 11,98,52,570/-. The Petitioner issued a demand notice on 09.05.2018 under section 8 of the IB Code. The Corporate Debtor replied on 11.05.2018, stating their clients defaulted in payments to them. The Corporate Debtor's counsel admitted the debt and default and expressed no objection to
…Shanaya Fashions…
Shanaya Fashions stopped supplying fabrics to…