M/s. Swatch Group (India) Pvt. Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Prime Retail India Ltd., the Corporate Debtor. The Operational Creditor claimed an unpaid operational debt of Rs. 9,53,64,236/-, including interest at 18% p.a. The Operational Creditor supplied watches to the Corporate Debtor under Retail Agreements dated November 22, 2013, and April 22, 2010, issuing separate invoices for each consignment. The Corporate Debtor failed to make payments for watches supplied since November 2018, resulting in an

M/s. Swatch Group (India) Pvt. Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Prime Retail India Ltd., the Corporate Debtor. The Operational Creditor claimed an unpaid operational debt of Rs. 9,53,64,236/-, including interest at 18% p.a. The Operational Creditor supplied watches to the Corporate Debtor under Retail Agreements dated November 22, 2013, and April 22, 2010, issuing separate invoices for each consignment. The Corporate Debtor failed to make payments for watches supplied since November 2018, resulting in an