The case involves an application filed by APL Corporation Pvt Ltd, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Saffron Poly Threads Private Limited, the Corporate Debtor. The Operational Creditor claimed an amount of Rs. 14,06,131/- plus interest for goods supplied to the Corporate Debtor. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of goods supplied and that the claims were time-barred.
APL Corporation Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Saffron Poly Threads Private Limited, the Corporate Debtor. The claim was for Rs. 14,06,131/- plus interest for goods supplied. The Corporate Debtor argued a pre-existing dispute over the quality of goods and that the claims were time-barred. The Operational Creditor supplied goods to the Corporate Debtor, raising invoices. The Corporate Debtor did not pay the outstanding dues, leading to a demand notice under Section 8 of IBC, 2016. The Corporate Debtor replied, citing a pre-existing dispute over inferior quality. The Operational Creditor argued regular transactions and
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Operational Creditor issued Demand Notice under…
Order Reserv…
The case involves an application filed by APL Corporation Pvt Ltd, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Saffron Poly Threads Private Limited, the Corporate Debtor. The Operational Creditor claimed an amount of Rs. 14,06,131/- plus interest for goods supplied to the Corporate Debtor. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of goods supplied and that the claims were time-barred.
APL Corporation Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Saffron Poly Threads Private Limited, the Corporate Debtor. The claim was for Rs. 14,06,131/- plus interest for goods supplied. The Corporate Debtor argued a pre-existing dispute over the quality of goods and that the claims were time-barred. The Operational Creditor supplied goods to the Corporate Debtor, raising invoices. The Corporate Debtor did not pay the outstanding dues, leading to a demand notice under Section 8 of IBC, 2016. The Corporate Debtor replied, citing a pre-existing dispute over inferior quality. The Operational Creditor argued regular transactions and
…Operational Creditor issued Demand Notice under…
Order Reserv…