Toll Global Forwarding (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('Code') against Sarash Exports Services Private Limited, the corporate debtor, for failing to liquidate its liability. The operational creditor provided logistics services to the corporate debtor and raised invoices, some of which remained outstanding. Despite demands, the corporate debtor failed to pay the outstanding amount.
Toll Global Forwarding (India) Private Limited (Operational Creditor) provided logistics services to Sarash Exports Services Private Limited (Corporate Debtor). The Operational Creditor raised 11 invoices for services rendered between May 2016 and July 2016, which remained outstanding. The total outstanding liability amounted to Rs. 8,58,426.87. Despite repeated demands, the Corporate Debtor failed to liquidate the debt. The Operational Creditor sent a notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, which went unreplied. The Operational Creditor maintained a ledger account reflecting the debit and credit in their dealings with the Corporate Debtor. The Operational Creditor's bank, Standard Chartered, certified that the amount of Rs. 8,58,426.87 had
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Operational Creditor…
Bankers of the Operational Creditor certified…
Toll Global Forwarding (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('Code') against Sarash Exports Services Private Limited, the corporate debtor, for failing to liquidate its liability. The operational creditor provided logistics services to the corporate debtor and raised invoices, some of which remained outstanding. Despite demands, the corporate debtor failed to pay the outstanding amount.
Toll Global Forwarding (India) Private Limited (Operational Creditor) provided logistics services to Sarash Exports Services Private Limited (Corporate Debtor). The Operational Creditor raised 11 invoices for services rendered between May 2016 and July 2016, which remained outstanding. The total outstanding liability amounted to Rs. 8,58,426.87. Despite repeated demands, the Corporate Debtor failed to liquidate the debt. The Operational Creditor sent a notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, which went unreplied. The Operational Creditor maintained a ledger account reflecting the debit and credit in their dealings with the Corporate Debtor. The Operational Creditor's bank, Standard Chartered, certified that the amount of Rs. 8,58,426.87 had
…Operational Creditor…
Bankers of the Operational Creditor certified…