The case involves an application filed by M/s. Bengal Polypet, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Pincon Spirits Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to make payments for pet bottles supplied as per purchase orders. The Operational Creditor provided tax invoices and challans as evidence. Despite repeated assurances, the Corporate Debtor did not make the payments, leading to the application for CIRP.
M/s. Bengal Polypet (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Pincon Spirits Limited (Corporate Debtor). The Operational Creditor supplied pet bottles to the Corporate Debtor based on purchase orders. Tax invoices and challans were raised by the Operational Creditor. Payments were initially made on an ad hoc basis, but after 2017-10-18, no payments were received. An amount of Rs. 31,76,168/- has been due since 2017-10-18. The Corporate Debtor did not pay the tax invoices and challans and used the VAT benefit of the due invoices. The Operational Creditor sent a demand notice on 2017-11-24, which was not replied to by the Corporate
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The Corporate Debtor…
The Operational…
The case involves an application filed by M/s. Bengal Polypet, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Pincon Spirits Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to make payments for pet bottles supplied as per purchase orders. The Operational Creditor provided tax invoices and challans as evidence. Despite repeated assurances, the Corporate Debtor did not make the payments, leading to the application for CIRP.
M/s. Bengal Polypet (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Pincon Spirits Limited (Corporate Debtor). The Operational Creditor supplied pet bottles to the Corporate Debtor based on purchase orders. Tax invoices and challans were raised by the Operational Creditor. Payments were initially made on an ad hoc basis, but after 2017-10-18, no payments were received. An amount of Rs. 31,76,168/- has been due since 2017-10-18. The Corporate Debtor did not pay the tax invoices and challans and used the VAT benefit of the due invoices. The Operational Creditor sent a demand notice on 2017-11-24, which was not replied to by the Corporate
…The Corporate Debtor…
The Operational…