The case involves an application filed by Sunil Beriwal, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Satyalaxmi Tradelinks Private Limited, the corporate debtor. The operational creditor claims that the corporate debtor owes Rs. 2,20,000/- on account of professional fees. Despite a demand notice, the corporate debtor failed to discharge the debt, leading to the filing of this application.
Sunil Beriwal, an operational creditor operating as Beriwal & Associates, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Satyalaxmi Tradelinks Private Limited, a corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 2,20,000/- for professional fees. A demand notice was issued, and the corporate debtor admitted its liability but expressed an inability to pay due to financial difficulties. The operational creditor produced copies of the invoice, demand notice, and the corporate debtor's reply. The corporate debtor entered an appearance and filed a reply affidavit admitting the claim. The operational creditor proposed Sandip Kumar Kejriwal as the Insolvency Professional, but he declined.
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The case involves an application filed by Sunil Beriwal, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Satyalaxmi Tradelinks Private Limited, the corporate debtor. The operational creditor claims that the corporate debtor owes Rs. 2,20,000/- on account of professional fees. Despite a demand notice, the corporate debtor failed to discharge the debt, leading to the filing of this application.
Sunil Beriwal, an operational creditor operating as Beriwal & Associates, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Satyalaxmi Tradelinks Private Limited, a corporate debtor. The operational creditor claimed that the corporate debtor owed Rs. 2,20,000/- for professional fees. A demand notice was issued, and the corporate debtor admitted its liability but expressed an inability to pay due to financial difficulties. The operational creditor produced copies of the invoice, demand notice, and the corporate debtor's reply. The corporate debtor entered an appearance and filed a reply affidavit admitting the claim. The operational creditor proposed Sandip Kumar Kejriwal as the Insolvency Professional, but he declined.
…The operational…
The corporate debtor…