The case involves a petition filed by Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (formerly known as M/s. Sanwaria Agro Limited), the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for services provided since 2009.
Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency (Operational Creditor), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (Corporate Debtor). The Corporate Debtor was incorporated on 22.04.1991. The Operational Creditor has been providing clearing and forwarding services to the Corporate Debtor since 2009. The Corporate Debtor stopped making payments after March 2019. The total outstanding debt is Rs. 1,53,31,016.00 along with interest at 18%. The Operational Creditor sent a demand notice on 16.09.2019, which was received by the Corporate Debtor on 24.09.2019. The Corporate Debtor admitted the debt and requested
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M/s. Sanwaria Consumer…
The Operational…
The case involves a petition filed by Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (formerly known as M/s. Sanwaria Agro Limited), the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for services provided since 2009.
Mr. Kishor Ramniklal Unadkat, the sole proprietor of M/s. Shakti Clearing Agency (Operational Creditor), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sanwaria Consumer Limited (Corporate Debtor). The Corporate Debtor was incorporated on 22.04.1991. The Operational Creditor has been providing clearing and forwarding services to the Corporate Debtor since 2009. The Corporate Debtor stopped making payments after March 2019. The total outstanding debt is Rs. 1,53,31,016.00 along with interest at 18%. The Operational Creditor sent a demand notice on 16.09.2019, which was received by the Corporate Debtor on 24.09.2019. The Corporate Debtor admitted the debt and requested
…M/s. Sanwaria Consumer…
The Operational…