This case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Amit Dye Chem (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Selathaar Tanning Industries Private Limited (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor defaulted in paying Rs.12,04,132/- as of 02.03.2018, along with interest at 24% per annum. The application was filed on 25.09.2019 and numbered as IBA/83/2020. Notices were issued to the Corporate Debtor, but there was no representation on their behalf, leading to an ex-parte order.
M/s. Amit Dye Chem, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Selathaar Tanning Industries Private Limited, the Corporate Debtor. The Operational Creditor claimed a default of Rs.12,04,132/- as of 02.03.2018, with interest at 24% per annum. The debt arose from the supply of chemical products, including Sodium Bicarbonate, Soda Ash, and Hypo, for which 30 invoices were raised. The application was filed on 25.09.2019. Notices were issued to the Corporate Debtor, but they were initially returned unserved. The Corporate Debtor was eventually served at multiple addresses, but no representation was made on their behalf. The
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Corporate Debtor…
Application IBA…
This case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Amit Dye Chem (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Selathaar Tanning Industries Private Limited (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor defaulted in paying Rs.12,04,132/- as of 02.03.2018, along with interest at 24% per annum. The application was filed on 25.09.2019 and numbered as IBA/83/2020. Notices were issued to the Corporate Debtor, but there was no representation on their behalf, leading to an ex-parte order.
M/s. Amit Dye Chem, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Selathaar Tanning Industries Private Limited, the Corporate Debtor. The Operational Creditor claimed a default of Rs.12,04,132/- as of 02.03.2018, with interest at 24% per annum. The debt arose from the supply of chemical products, including Sodium Bicarbonate, Soda Ash, and Hypo, for which 30 invoices were raised. The application was filed on 25.09.2019. Notices were issued to the Corporate Debtor, but they were initially returned unserved. The Corporate Debtor was eventually served at multiple addresses, but no representation was made on their behalf. The
…Corporate Debtor…
Application IBA…