This case involves an application filed by J. J. Plastalloy Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Samleshwari Packaging Pvt. Ltd. for defaulting on debt payments related to the supply of plastic granules. J. J. Plastalloy claimed that Samleshwari Packaging failed to clear outstanding debts despite supplying plastic granules and raising invoices. The applicant issued a statutory demand notice after the amount was not paid.
J. J. Plastalloy Pvt. Ltd. (the applicant/operational creditor) supplied plastic granules to Samleshwari Packaging Pvt. Ltd. (the respondent). J. J. Plastalloy raised 10 invoices, which were allegedly received, acknowledged, and accepted by Samleshwari Packaging. After adjusting a payment of Rs. 14,63,615 made by Samleshwari Packaging, J. J. Plastalloy claimed that Rs. 14,96,193 was still pending, along with 24% annual interest. J. J. Plastalloy issued a statutory demand notice on August 19, 2017, under Section 8 of IBC, 2016. Samleshwari Packaging claimed to have paid Rs. 4,50,000 to J. J. Plastalloy (Rs. 3 lakhs on May 20, 2017, and Rs. 1,50,000 on March 9, 2018), and asserted that the applicant accepted this amount as full settlement. Samleshwari Packaging also
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J. J. Plastalloy issued a statutory demand…
J. J. Plastalloy filed an application under…
This case involves an application filed by J. J. Plastalloy Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Samleshwari Packaging Pvt. Ltd. for defaulting on debt payments related to the supply of plastic granules. J. J. Plastalloy claimed that Samleshwari Packaging failed to clear outstanding debts despite supplying plastic granules and raising invoices. The applicant issued a statutory demand notice after the amount was not paid.
J. J. Plastalloy Pvt. Ltd. (the applicant/operational creditor) supplied plastic granules to Samleshwari Packaging Pvt. Ltd. (the respondent). J. J. Plastalloy raised 10 invoices, which were allegedly received, acknowledged, and accepted by Samleshwari Packaging. After adjusting a payment of Rs. 14,63,615 made by Samleshwari Packaging, J. J. Plastalloy claimed that Rs. 14,96,193 was still pending, along with 24% annual interest. J. J. Plastalloy issued a statutory demand notice on August 19, 2017, under Section 8 of IBC, 2016. Samleshwari Packaging claimed to have paid Rs. 4,50,000 to J. J. Plastalloy (Rs. 3 lakhs on May 20, 2017, and Rs. 1,50,000 on March 9, 2018), and asserted that the applicant accepted this amount as full settlement. Samleshwari Packaging also
…J. J. Plastalloy issued a statutory demand…
J. J. Plastalloy filed an application under…