APT Packaging Limited, the operational creditor, filed a petition under Sections 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Sheon Skincare Pvt. Ltd., the corporate debtor. APT Packaging claimed that a sum of Rs.10,78,372/- was due for goods supplied to Sheon Skincare between 31.05.2016 and 06.08.2016. A demand notice dated 19.06.2017 was sent to the corporate debtor and delivered on 23.06.2017. The operational creditor also filed an affidavit stating that the corporate debtor had not given any notice relating to a dispute regarding the unpaid operational debt. The counsel for the operational creditor pointed out that a certificate from the bankers regarding the unpaid operational
…APT Packaging Limited (Operational Creditor) supplied skin care products to Sheon Skincare Pvt. Ltd. (Corporate Debtor) between 31.05.2016 and 06.08.2016. An amount of Rs.10,78,372/- was claimed to be due as of 19.06.2017. A demand notice was sent on 19.06.2017 and delivered on 23.06.2017. The Corporate Debtor did not issue any notice of dispute regarding the debt. The Operational Creditor filed an affidavit under Section 9(3)(b) of IBC, 2016. A certificate from the bankers regarding the unpaid debt was also produced. The Corporate Debtor's financial statements for the year ending 31.03.2015 showed losses and negative net worth. The Corporate Debtor did not appear before the Tribunal to defend its case despite receiving notice. The Operational Creditor filed an
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Supply of goods by APT…
Supply of goods by APT…
APT Packaging Limited, the operational creditor, filed a petition under Sections 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Sheon Skincare Pvt. Ltd., the corporate debtor. APT Packaging claimed that a sum of Rs.10,78,372/- was due for goods supplied to Sheon Skincare between 31.05.2016 and 06.08.2016. A demand notice dated 19.06.2017 was sent to the corporate debtor and delivered on 23.06.2017. The operational creditor also filed an affidavit stating that the corporate debtor had not given any notice relating to a dispute regarding the unpaid operational debt. The counsel for the operational creditor pointed out that a certificate from the bankers regarding the unpaid operational
…APT Packaging Limited (Operational Creditor) supplied skin care products to Sheon Skincare Pvt. Ltd. (Corporate Debtor) between 31.05.2016 and 06.08.2016. An amount of Rs.10,78,372/- was claimed to be due as of 19.06.2017. A demand notice was sent on 19.06.2017 and delivered on 23.06.2017. The Corporate Debtor did not issue any notice of dispute regarding the debt. The Operational Creditor filed an affidavit under Section 9(3)(b) of IBC, 2016. A certificate from the bankers regarding the unpaid debt was also produced. The Corporate Debtor's financial statements for the year ending 31.03.2015 showed losses and negative net worth. The Corporate Debtor did not appear before the Tribunal to defend its case despite receiving notice. The Operational Creditor filed an
…Supply of goods by APT…
Supply of goods by APT…