SQM Europe N. V., an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Salvi Chemical Industries Limited, the corporate debtor, for initiating Corporate Insolvency Resolution Process (CIRP) due to a default of USD 3,06,000/-. The corporate debtor allegedly failed to pay for goods supplied by the operational creditor, leading to the application.
SQM Europe N. V. (Operational Creditor) filed an application against Salvi Chemical Industries Limited (Corporate Debtor) under Section 9 of the I&B Code, 2016, seeking to initiate CIRP. The claim arose from a default of USD 3,06,000/- (equivalent to ₹2,07,37,467/-) as of 22.06.2018. The Operational Creditor supplied 'Prilled Iodine 99.8%' to the Corporate Debtor based on a purchase order placed on 26.12.2013, with an invoice dated 13.01.2014. The goods were delivered via container vessel, evidenced by a bill of lading dated 13.01.2014. Despite accepting the goods, the Corporate Debtor failed to pay the invoice amount. The Corporate Debtor acknowledged the debt in emails dated 15.05.2015 and 01.07.2015, suggesting payment proposals. A demand notice was issued on
…Sign in to view the parties.
Corporate Debtor placed…
Invoice issued…
SQM Europe N. V., an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Salvi Chemical Industries Limited, the corporate debtor, for initiating Corporate Insolvency Resolution Process (CIRP) due to a default of USD 3,06,000/-. The corporate debtor allegedly failed to pay for goods supplied by the operational creditor, leading to the application.
SQM Europe N. V. (Operational Creditor) filed an application against Salvi Chemical Industries Limited (Corporate Debtor) under Section 9 of the I&B Code, 2016, seeking to initiate CIRP. The claim arose from a default of USD 3,06,000/- (equivalent to ₹2,07,37,467/-) as of 22.06.2018. The Operational Creditor supplied 'Prilled Iodine 99.8%' to the Corporate Debtor based on a purchase order placed on 26.12.2013, with an invoice dated 13.01.2014. The goods were delivered via container vessel, evidenced by a bill of lading dated 13.01.2014. Despite accepting the goods, the Corporate Debtor failed to pay the invoice amount. The Corporate Debtor acknowledged the debt in emails dated 15.05.2015 and 01.07.2015, suggesting payment proposals. A demand notice was issued on
…Corporate Debtor placed…
Invoice issued…