The case involves an application filed by RQS Engineering Pvt. Ltd., the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Reliable Insupack Pvt. Ltd., the Corporate Debtor (CD). The OC claimed default on payment for goods and raw materials supplied to the CD. A previous petition (IB-233/ND/2018) was withdrawn after a settlement, but the CD allegedly defaulted again by dishonoring cheques issued as part of that settlement.
RQS Engineering Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Reliable Insupack Pvt. Ltd. (Corporate Debtor) for default in payment. The Corporate Debtor had placed purchase orders for goods and raw materials with the Operational Creditor. Initially, Rs. 17,97,327/- was due as on 30.11.2017, leading to a previous petition (IB.233/ND/2018) which was later withdrawn on 3.4.2018, due to a settlement where the Corporate Debtor agreed to pay the amount. The Corporate Debtor issued two cheques, one for Rs. 6,00,000/- dated 3.5.2018 and another for Rs. 5,97,327/- dated 2.6.2018. The Operational Creditor received the first installment of Rs. 6,00,000/-, but the remaining amount of Rs. 11,97,327/-
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Reliable Insupack Pvt. Ltd. incorporated with…
Rs. 17,97,327/- was due…
The case involves an application filed by RQS Engineering Pvt. Ltd., the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Reliable Insupack Pvt. Ltd., the Corporate Debtor (CD). The OC claimed default on payment for goods and raw materials supplied to the CD. A previous petition (IB-233/ND/2018) was withdrawn after a settlement, but the CD allegedly defaulted again by dishonoring cheques issued as part of that settlement.
RQS Engineering Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Reliable Insupack Pvt. Ltd. (Corporate Debtor) for default in payment. The Corporate Debtor had placed purchase orders for goods and raw materials with the Operational Creditor. Initially, Rs. 17,97,327/- was due as on 30.11.2017, leading to a previous petition (IB.233/ND/2018) which was later withdrawn on 3.4.2018, due to a settlement where the Corporate Debtor agreed to pay the amount. The Corporate Debtor issued two cheques, one for Rs. 6,00,000/- dated 3.5.2018 and another for Rs. 5,97,327/- dated 2.6.2018. The Operational Creditor received the first installment of Rs. 6,00,000/-, but the remaining amount of Rs. 11,97,327/-
…Reliable Insupack Pvt. Ltd. incorporated with…
Rs. 17,97,327/- was due…