Himgiri Textiles filed a Company Petition under Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Shirt Company (India) Private Limited. The petition alleges that the Corporate Debtor defaulted on a payment of ₹84,31,461/- along with future interest at 24% p.a. The Petitioner, a proprietorship firm, supplied various types of fabrics to the Corporate Debtor, raising invoices worth ₹92,11,603/-. After deductions, a balance of ₹84,31,461/- remained unpaid.
Himgiri Textiles, a proprietorship firm, supplied fabrics to Shirt Company (India) Private Limited, the Corporate Debtor. The total value of the invoices raised was ₹92,11,603/-. After deductions, a balance of ₹84,31,461/- remained unpaid. Himgiri Textiles issued a demand notice dated 2019-05-07 to the Corporate Debtor under Section 8 of the I&B Code, demanding payment of ₹84,31,461/- along with future interest at 24% p.a. The Corporate Debtor failed to respond to the demand notice. Himgiri Textiles annexed copies of purchase orders, invoices, delivery challans, dishonored cheques worth ₹8 lacs, ledger accounts for financial years 2016-2017, 2017-2018, and 2018-2019, and a letter from the bank to support its claim. The Corporate Debtor admitted liability during the
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Himgiri Textiles issued a demand notice to…
Himgiri Textiles filed the Company Petition…
Himgiri Textiles filed a Company Petition under Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Shirt Company (India) Private Limited. The petition alleges that the Corporate Debtor defaulted on a payment of ₹84,31,461/- along with future interest at 24% p.a. The Petitioner, a proprietorship firm, supplied various types of fabrics to the Corporate Debtor, raising invoices worth ₹92,11,603/-. After deductions, a balance of ₹84,31,461/- remained unpaid.
Himgiri Textiles, a proprietorship firm, supplied fabrics to Shirt Company (India) Private Limited, the Corporate Debtor. The total value of the invoices raised was ₹92,11,603/-. After deductions, a balance of ₹84,31,461/- remained unpaid. Himgiri Textiles issued a demand notice dated 2019-05-07 to the Corporate Debtor under Section 8 of the I&B Code, demanding payment of ₹84,31,461/- along with future interest at 24% p.a. The Corporate Debtor failed to respond to the demand notice. Himgiri Textiles annexed copies of purchase orders, invoices, delivery challans, dishonored cheques worth ₹8 lacs, ledger accounts for financial years 2016-2017, 2017-2018, and 2018-2019, and a letter from the bank to support its claim. The Corporate Debtor admitted liability during the
…Himgiri Textiles issued a demand notice to…
Himgiri Textiles filed the Company Petition…