Kanan Graphics Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Print Plus Private Limited, the Corporate Debtor, due to a default in payment of ₹15,96,723/- against invoices. The Corporate Debtor raised disputes regarding the quality of goods supplied, leading to the issuance of credit notes. The Operational Creditor claimed that the dispute was settled after issuing credit notes, while the Corporate Debtor argued that the credit notes did not absolve them of liability for losses incurred due to defective goods. The Corporate Debtor also referenced a prior application (CP No.1247/2017) filed by the Petitioner for the same claim.
Kanan Graphics Private Limited (Operational Creditor) supplied goods to Print Plus Private Limited (Corporate Debtor). The Corporate Debtor defaulted on payments amounting to ₹15,96,723/- against invoices. The Corporate Debtor claimed the goods were defective and caused a loss of ₹28,00,000/-, communicating this via emails. The Operational Creditor issued credit notes for the defective goods. The Operational Creditor issued a demand notice on 5.5.2017. The Corporate Debtor first quantified its losses in a notice of dispute dated 15.5.2017, after receiving the demand notice. The Operational Creditor filed a Company Petition on 8.3.2018. The Corporate Debtor admitted liability in an email dated 26.12.2016 and promised payment from January 2017. The Corporate Debtor had
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The Operational Creditor raised an undisputed…
Kanan Graphics Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Print Plus Private Limited, the Corporate Debtor, due to a default in payment of ₹15,96,723/- against invoices. The Corporate Debtor raised disputes regarding the quality of goods supplied, leading to the issuance of credit notes. The Operational Creditor claimed that the dispute was settled after issuing credit notes, while the Corporate Debtor argued that the credit notes did not absolve them of liability for losses incurred due to defective goods. The Corporate Debtor also referenced a prior application (CP No.1247/2017) filed by the Petitioner for the same claim.
Kanan Graphics Private Limited (Operational Creditor) supplied goods to Print Plus Private Limited (Corporate Debtor). The Corporate Debtor defaulted on payments amounting to ₹15,96,723/- against invoices. The Corporate Debtor claimed the goods were defective and caused a loss of ₹28,00,000/-, communicating this via emails. The Operational Creditor issued credit notes for the defective goods. The Operational Creditor issued a demand notice on 5.5.2017. The Corporate Debtor first quantified its losses in a notice of dispute dated 15.5.2017, after receiving the demand notice. The Operational Creditor filed a Company Petition on 8.3.2018. The Corporate Debtor admitted liability in an email dated 26.12.2016 and promised payment from January 2017. The Corporate Debtor had
…The date of default in…
The Operational Creditor raised an undisputed…