The case involves an application filed by Pucar Traders, an operational creditor, against Saiswaram Tradelinks Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed them money for raw materials supplied between 2016 and 2018. A cheque issued by the corporate debtor was dishonored due to insufficient funds. The operational creditor issued a statutory notice under the Negotiable Instruments Act, but the corporate debtor failed to clear the dues, leading to the application before the NCLT.
Pucar Traders, a partnership firm engaged in paper manufacturing and raw material supply, filed an application against Saiswaram Tradelinks Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed Rs. 70,68,544.00 as of 31.08.2018 for raw materials supplied between 2016 and 2018. A cheque for Rs. 49,76,257.00 issued by Saiswaram Tradelinks on 14.02.2018 was dishonored due to insufficient funds. Pucar Traders issued a statutory notice on 09.03.2018 under the Negotiable Instruments Act. Saiswaram Tradelinks raised objections, stating a pre-existing dispute regarding the quality and quantity of goods. Saiswaram Tradelinks provided email communication from 11.01.2017, rejecting the material due to
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Saiswaram Tradelinks…
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The case involves an application filed by Pucar Traders, an operational creditor, against Saiswaram Tradelinks Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed them money for raw materials supplied between 2016 and 2018. A cheque issued by the corporate debtor was dishonored due to insufficient funds. The operational creditor issued a statutory notice under the Negotiable Instruments Act, but the corporate debtor failed to clear the dues, leading to the application before the NCLT.
Pucar Traders, a partnership firm engaged in paper manufacturing and raw material supply, filed an application against Saiswaram Tradelinks Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Pucar Traders claimed that Saiswaram Tradelinks owed Rs. 70,68,544.00 as of 31.08.2018 for raw materials supplied between 2016 and 2018. A cheque for Rs. 49,76,257.00 issued by Saiswaram Tradelinks on 14.02.2018 was dishonored due to insufficient funds. Pucar Traders issued a statutory notice on 09.03.2018 under the Negotiable Instruments Act. Saiswaram Tradelinks raised objections, stating a pre-existing dispute regarding the quality and quantity of goods. Saiswaram Tradelinks provided email communication from 11.01.2017, rejecting the material due to
…Saiswaram Tradelinks…
Pucar Traders supplied…
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