APS Poly Fab Private Limited filed a petition under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Printech Digital Imaging Private Limited, alleging a default of Rs. 11,60,381, which includes principal and interest at 18% p.a. The Operational Creditor, APS Poly Fab, claimed that it supplied PVC flex sheeting to the Corporate Debtor, Printech Digital Imaging, but the Corporate Debtor failed to pay outstanding dues of Rs. 7,59,962 for invoices dated 10.06.2016 and 05.07.2016. The Corporate Debtor also owed interest of Rs. 4,00,419. The Operational Creditor issued a demand notice after several reminders.
APS Poly Fab Private Limited (Operational Creditor) filed a petition against Printech Digital Imaging Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 11,60,381, including principal and interest. APS Poly Fab supplied PVC flex sheeting to Printech Digital Imaging, which the latter accepted. However, Printech Digital Imaging failed to pay Rs. 7,59,962 for invoices dated 10.06.2016 and 05.07.2016, plus interest of Rs. 4,00,419. APS Poly Fab issued a demand notice after reminders. Printech Digital Imaging claimed the supplied material was of low quality, causing losses, and that a pre-existing dispute existed. They also argued that some claims were time-barred. Printech Digital Imaging stated that the flex was used for printing
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APS Poly Fab Private…
Printech Digital…
APS Poly Fab Private Limited filed a petition under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Printech Digital Imaging Private Limited, alleging a default of Rs. 11,60,381, which includes principal and interest at 18% p.a. The Operational Creditor, APS Poly Fab, claimed that it supplied PVC flex sheeting to the Corporate Debtor, Printech Digital Imaging, but the Corporate Debtor failed to pay outstanding dues of Rs. 7,59,962 for invoices dated 10.06.2016 and 05.07.2016. The Corporate Debtor also owed interest of Rs. 4,00,419. The Operational Creditor issued a demand notice after several reminders.
APS Poly Fab Private Limited (Operational Creditor) filed a petition against Printech Digital Imaging Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 11,60,381, including principal and interest. APS Poly Fab supplied PVC flex sheeting to Printech Digital Imaging, which the latter accepted. However, Printech Digital Imaging failed to pay Rs. 7,59,962 for invoices dated 10.06.2016 and 05.07.2016, plus interest of Rs. 4,00,419. APS Poly Fab issued a demand notice after reminders. Printech Digital Imaging claimed the supplied material was of low quality, causing losses, and that a pre-existing dispute existed. They also argued that some claims were time-barred. Printech Digital Imaging stated that the flex was used for printing
…APS Poly Fab Private…
Printech Digital…