M/s Ansh Contractors, claiming to be an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Pureshot Food & Beverages Private Limited, the Corporate Debtor. The petitioner and respondent entered into a distribution agreement on 02.04.2018. The petitioner transferred Rs. 5,00,000 to the respondent's bank account for purchasing material. The petitioner placed two purchase orders on 04.04.2018, but the respondent failed to supply the material and also failed to refund the amount.
M/s Ansh Contractors (Operational Creditor/Applicant) filed a petition against M/s Pureshot Food & Beverages Pvt. Ltd. (Corporate Debtor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner and respondent entered into a distribution agreement on 02.04.2018, where the respondent was to supply food and beverages to the petitioner. The petitioner transferred Rs. 5,00,000 to the respondent's bank account as advance for purchasing material. Two purchase orders were placed on 04.04.2018. The respondent failed to supply the material and also failed to refund the advance amount. The petitioner issued a demand notice on 20.07.2018, which was served to the respondent, but the respondent did not reply or repay the amount. The respondent
…Sign in to view the parties.
Petitioner and…
Petitioner placed two…
M/s Ansh Contractors, claiming to be an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Pureshot Food & Beverages Private Limited, the Corporate Debtor. The petitioner and respondent entered into a distribution agreement on 02.04.2018. The petitioner transferred Rs. 5,00,000 to the respondent's bank account for purchasing material. The petitioner placed two purchase orders on 04.04.2018, but the respondent failed to supply the material and also failed to refund the amount.
M/s Ansh Contractors (Operational Creditor/Applicant) filed a petition against M/s Pureshot Food & Beverages Pvt. Ltd. (Corporate Debtor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner and respondent entered into a distribution agreement on 02.04.2018, where the respondent was to supply food and beverages to the petitioner. The petitioner transferred Rs. 5,00,000 to the respondent's bank account as advance for purchasing material. Two purchase orders were placed on 04.04.2018. The respondent failed to supply the material and also failed to refund the advance amount. The petitioner issued a demand notice on 20.07.2018, which was served to the respondent, but the respondent did not reply or repay the amount. The respondent
…Petitioner and…
Petitioner placed two…