The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by J J Plastalloy Pvt. Ltd. (Operational Creditor) against Santoshi Barrier Film India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that it supplied plastic granules and master batches to the Corporate Debtor, raising invoices from 18.12.2014 to 26.3.2017, totaling ₹62,70,916. When the payment was not made, the Operational Creditor issued a notice on 16.8.2017 under Section 434 of the Companies Act, 1956, followed by a notice under Section 8 of the IBC, 2016, on 26.12.2016.
J J Plastalloy Pvt. Ltd. (Operational Creditor) supplied plastic granules and master batches to Santoshi Barrier Film India Pvt. Ltd. (Corporate Debtor). Invoices were raised from 18.12.2014 to 26.3.2017, totaling ₹62,70,916. The Corporate Debtor failed to make full payment. The Operational Creditor issued a notice on 16.8.2017 under Section 434 of the Companies Act, 1956, and a subsequent notice under Section 8 of the IBC, 2016, on 26.12.2016. The Corporate Debtor made partial payments of ₹5,34,996 on 19.5.2017 and 20.6.2017. The Operational Creditor filed a Company Petition under Section 9 of the IBC, claiming a default amount of ₹21,73,408 along with interest of ₹14,69,052 up to 15.8.2017. The Corporate Debtor's counsel appeared but did not dispute the facts or
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The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by J J Plastalloy Pvt. Ltd. (Operational Creditor) against Santoshi Barrier Film India Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that it supplied plastic granules and master batches to the Corporate Debtor, raising invoices from 18.12.2014 to 26.3.2017, totaling ₹62,70,916. When the payment was not made, the Operational Creditor issued a notice on 16.8.2017 under Section 434 of the Companies Act, 1956, followed by a notice under Section 8 of the IBC, 2016, on 26.12.2016.
J J Plastalloy Pvt. Ltd. (Operational Creditor) supplied plastic granules and master batches to Santoshi Barrier Film India Pvt. Ltd. (Corporate Debtor). Invoices were raised from 18.12.2014 to 26.3.2017, totaling ₹62,70,916. The Corporate Debtor failed to make full payment. The Operational Creditor issued a notice on 16.8.2017 under Section 434 of the Companies Act, 1956, and a subsequent notice under Section 8 of the IBC, 2016, on 26.12.2016. The Corporate Debtor made partial payments of ₹5,34,996 on 19.5.2017 and 20.6.2017. The Operational Creditor filed a Company Petition under Section 9 of the IBC, claiming a default amount of ₹21,73,408 along with interest of ₹14,69,052 up to 15.8.2017. The Corporate Debtor's counsel appeared but did not dispute the facts or
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