The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the respondent, M/s. Raipur Polymers Pvt. Ltd. The applicant, M/s. Calcopolychem Pvt. Ltd., claims to have regularly supplied goods to the respondent, with outstanding invoices dating from 11.02.2019 to 16.05.2019. The applicant also claims entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argues that there is no default in payment, citing a long-standing business relationship and a fire accident in December 2019 that severely impacted their
…M/s. Calcopolychem Pvt. Ltd. (the applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Raipur Polymers Pvt. Ltd. (the respondent). The applicant claimed that the respondent owed Rs. 18,12,488/- for goods supplied between 11.02.2019 and 16.05.2019. The applicant also claimed entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argued that there was no default in payment, citing a long-standing business relationship, payments made, and a fire accident in December 2019 that severely impacted their
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against the respondent, M/s. Raipur Polymers Pvt. Ltd. The applicant, M/s. Calcopolychem Pvt. Ltd., claims to have regularly supplied goods to the respondent, with outstanding invoices dating from 11.02.2019 to 16.05.2019. The applicant also claims entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argues that there is no default in payment, citing a long-standing business relationship and a fire accident in December 2019 that severely impacted their
…M/s. Calcopolychem Pvt. Ltd. (the applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Raipur Polymers Pvt. Ltd. (the respondent). The applicant claimed that the respondent owed Rs. 18,12,488/- for goods supplied between 11.02.2019 and 16.05.2019. The applicant also claimed entitlement to 24% for delayed payments as per the invoices and terms. A demand notice was issued on 10.12.2019 and received by the respondent on 13.12.2019, but the respondent did not reply. The respondent argued that there was no default in payment, citing a long-standing business relationship, payments made, and a fire accident in December 2019 that severely impacted their
…First invoice…
Last invoice d…