The case involves a petition filed by M/S Baff Engineers Private Limited, the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/S Pratishtha Dairy Farms Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for the supply of goods. A purchase order was issued by the corporate debtor and accepted by the operational creditor. The operational creditor issued 17 RA bills, which were certified by the corporate debtor, but a sum of Rs. 16,57,697/- remained unpaid.
M/S Baff Engineers Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratishtha Dairy Farms Private Limited (Corporate Debtor). The basis of the petition was the Corporate Debtor's failure to pay an outstanding amount of Rs. 16,57,697/- for goods supplied. A purchase order was issued by the Corporate Debtor on 2015-03-08 and accepted by the Operational Creditor. The Operational Creditor issued 17 RA bills, which were certified by the Corporate Debtor, for a total amount of Rs. 1,21,31,097/-, out of which Rs. 1,04,73,400/- was paid, leaving Rs. 16,57,697/- outstanding. The Operational Creditor issued a demand notice under Section 8 of
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The case involves a petition filed by M/S Baff Engineers Private Limited, the operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/S Pratishtha Dairy Farms Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted on payments for the supply of goods. A purchase order was issued by the corporate debtor and accepted by the operational creditor. The operational creditor issued 17 RA bills, which were certified by the corporate debtor, but a sum of Rs. 16,57,697/- remained unpaid.
M/S Baff Engineers Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratishtha Dairy Farms Private Limited (Corporate Debtor). The basis of the petition was the Corporate Debtor's failure to pay an outstanding amount of Rs. 16,57,697/- for goods supplied. A purchase order was issued by the Corporate Debtor on 2015-03-08 and accepted by the Operational Creditor. The Operational Creditor issued 17 RA bills, which were certified by the Corporate Debtor, for a total amount of Rs. 1,21,31,097/-, out of which Rs. 1,04,73,400/- was paid, leaving Rs. 16,57,697/- outstanding. The Operational Creditor issued a demand notice under Section 8 of
…Corporate Debtor issued a purchase order…
Start date…