The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Swastik Polyvinyls Pvt. Ltd., an operational creditor, against P.R.Technoplast Pvt. Ltd., the corporate debtor, for initiating the insolvency resolution process due to unpaid operational debt. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, leading to the filing of the petition before the National Company Law Tribunal (NCLT), Chandigarh Bench.
Swastik Polyvinyls Pvt. Ltd. (the 'petitioner'), an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') against P.R.Technoplast Pvt. Ltd. (the 'respondent'), a corporate debtor. The petitioner-company was incorporated on 19.05.1998. The respondent-company was incorporated on 26.06.2013. The petitioner claimed that the respondent defaulted on payments for goods supplied under 8 invoices, with an outstanding balance of ₹12,11,398/- out of a total of ₹13,81,535/-. The petitioner provided a bank certificate confirming no payments were received from the respondent since 30.10.2016. The petitioner sent a demand notice dated 13.11.2017 to the respondent, which was duly delivered on 22.11.2017. The respondent did not send
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Swastik Polyvin…
P.R.Technopla…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Swastik Polyvinyls Pvt. Ltd., an operational creditor, against P.R.Technoplast Pvt. Ltd., the corporate debtor, for initiating the insolvency resolution process due to unpaid operational debt. The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, leading to the filing of the petition before the National Company Law Tribunal (NCLT), Chandigarh Bench.
Swastik Polyvinyls Pvt. Ltd. (the 'petitioner'), an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') against P.R.Technoplast Pvt. Ltd. (the 'respondent'), a corporate debtor. The petitioner-company was incorporated on 19.05.1998. The respondent-company was incorporated on 26.06.2013. The petitioner claimed that the respondent defaulted on payments for goods supplied under 8 invoices, with an outstanding balance of ₹12,11,398/- out of a total of ₹13,81,535/-. The petitioner provided a bank certificate confirming no payments were received from the respondent since 30.10.2016. The petitioner sent a demand notice dated 13.11.2017 to the respondent, which was duly delivered on 22.11.2017. The respondent did not send
…Swastik Polyvin…
P.R.Technopla…