M/s Pawar Milk Suppliers, an operational creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Pandhari Milk Private Limited, the corporate debtor. The petition was filed due to the corporate debtor's failure to pay a sum of Rs.33,00,000/- as principal amount and Rs.3,90,576/- as interest as of 31.07.2018, the date of default. The operational creditor had supplied milk to the corporate debtor on various dates, with the last bill of supply dated 30.11.2018. The corporate debtor acknowledged the debt in a letter dated 31.01.2019 but requested the operational creditor to continue supplying milk.
M/s Pawar Milk Suppliers, the operational creditor, supplied milk to Pandhari Milk Private Limited, the corporate debtor, on various dates. The last bill of supply was dated 30.11.2018. The corporate debtor failed to make payment of Rs.33,00,000/- as principal and Rs.3,90,576/- as interest, totaling Rs.36,90,576/-, as of 31.07.2018, which was considered the date of default. The total sum due was Rs.86,80,288/-. Partial payments of Rs.42,79,250/- were made between 04.01.2019 and 22.01.2019, leaving a remaining debt of Rs.44,01,038/-. The corporate debtor acknowledged the debt in a letter dated 31.01.2019 but requested continued supply of milk. A demand notice in Form 3 was served on 20.04.2019, but no reply was received within the statutory period. The corporate debtor
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Pandhari Milk Private…
The Corporate Debtor failed to make…
M/s Pawar Milk Suppliers, an operational creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Pandhari Milk Private Limited, the corporate debtor. The petition was filed due to the corporate debtor's failure to pay a sum of Rs.33,00,000/- as principal amount and Rs.3,90,576/- as interest as of 31.07.2018, the date of default. The operational creditor had supplied milk to the corporate debtor on various dates, with the last bill of supply dated 30.11.2018. The corporate debtor acknowledged the debt in a letter dated 31.01.2019 but requested the operational creditor to continue supplying milk.
M/s Pawar Milk Suppliers, the operational creditor, supplied milk to Pandhari Milk Private Limited, the corporate debtor, on various dates. The last bill of supply was dated 30.11.2018. The corporate debtor failed to make payment of Rs.33,00,000/- as principal and Rs.3,90,576/- as interest, totaling Rs.36,90,576/-, as of 31.07.2018, which was considered the date of default. The total sum due was Rs.86,80,288/-. Partial payments of Rs.42,79,250/- were made between 04.01.2019 and 22.01.2019, leaving a remaining debt of Rs.44,01,038/-. The corporate debtor acknowledged the debt in a letter dated 31.01.2019 but requested continued supply of milk. A demand notice in Form 3 was served on 20.04.2019, but no reply was received within the statutory period. The corporate debtor
…Pandhari Milk Private…
The Corporate Debtor failed to make…