M/s PAN Chemicals Inc., an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Sainath Texport Ltd., the respondent-corporate debtor, for initiating the insolvency resolution process. The operational creditor claimed an outstanding amount of ₹6,71,816.93 for supplying goods to the corporate debtor. The corporate debtor was incorporated on 26.03.2010 under the Companies Act, 1956. The petitioner had previously filed a similar petition which was withdrawn with liberty to file a fresh one.
M/s PAN Chemicals Inc., acting as an operational creditor through its proprietor Ramji Lal, initiated insolvency proceedings against M/s Sainath Texport Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for ₹6,71,816.93, representing the unpaid amount for goods supplied by the operational creditor to the corporate debtor. The transactions occurred between 02.03.2011 and 19.08.2013. The corporate debtor was incorporated on 26.03.2010. The operational creditor sent a demand notice dated 08.12.2017, which was delivered to the corporate debtor on 13.12.2017. The corporate debtor acknowledged the outstanding debt in writing on 16.03.2015, confirmed on 21.03.2015. The operational creditor filed a previous petition which
…Sign in to view the parties.
M/s Sainath Texport…
Transactions between…
M/s PAN Chemicals Inc., an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Sainath Texport Ltd., the respondent-corporate debtor, for initiating the insolvency resolution process. The operational creditor claimed an outstanding amount of ₹6,71,816.93 for supplying goods to the corporate debtor. The corporate debtor was incorporated on 26.03.2010 under the Companies Act, 1956. The petitioner had previously filed a similar petition which was withdrawn with liberty to file a fresh one.
M/s PAN Chemicals Inc., acting as an operational creditor through its proprietor Ramji Lal, initiated insolvency proceedings against M/s Sainath Texport Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for ₹6,71,816.93, representing the unpaid amount for goods supplied by the operational creditor to the corporate debtor. The transactions occurred between 02.03.2011 and 19.08.2013. The corporate debtor was incorporated on 26.03.2010. The operational creditor sent a demand notice dated 08.12.2017, which was delivered to the corporate debtor on 13.12.2017. The corporate debtor acknowledged the outstanding debt in writing on 16.03.2015, confirmed on 21.03.2015. The operational creditor filed a previous petition which
…M/s Sainath Texport…
Transactions between…