The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by J B Ecotex LLP (Operational Creditor) against Shree Hanuman Texfab Pvt Ltd (Corporate Debtor). The Operational Creditor claims that they supplied Polyester Staple Fibre to the Corporate Debtor, for which invoices were raised and acknowledged. The Corporate Debtor allegedly failed to make payments against these invoices, leading to the filing of the petition for initiation of CIRP.
J B Ecotex LLP (Operational Creditor) supplied Polyester Staple Fibre to Shree Hanuman Texfab Pvt Ltd (Corporate Debtor). Invoices were raised for the supplied goods, and the Corporate Debtor acknowledged these invoices. The Operational Creditor claimed a total debt of Rs. 91,05,327.63, including Rs. 79,24,592 as per the ledger balance, Rs. 9,55,110.62 for 'C' forms not received, and Rs. 2,25,625 as probable penalty for 'C' form. The Corporate Debtor issued post-dated cheques, which were later dishonored. The Operational Creditor issued a demand notice in Form 3, but no payment or reply was received. The Corporate Debtor claimed that the goods supplied were of inferior quality and that blank cheques were misused. The Operational Creditor filed an affidavit stating that
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Company Petiti…
The Corporate Debtor filed an…
The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by J B Ecotex LLP (Operational Creditor) against Shree Hanuman Texfab Pvt Ltd (Corporate Debtor). The Operational Creditor claims that they supplied Polyester Staple Fibre to the Corporate Debtor, for which invoices were raised and acknowledged. The Corporate Debtor allegedly failed to make payments against these invoices, leading to the filing of the petition for initiation of CIRP.
J B Ecotex LLP (Operational Creditor) supplied Polyester Staple Fibre to Shree Hanuman Texfab Pvt Ltd (Corporate Debtor). Invoices were raised for the supplied goods, and the Corporate Debtor acknowledged these invoices. The Operational Creditor claimed a total debt of Rs. 91,05,327.63, including Rs. 79,24,592 as per the ledger balance, Rs. 9,55,110.62 for 'C' forms not received, and Rs. 2,25,625 as probable penalty for 'C' form. The Corporate Debtor issued post-dated cheques, which were later dishonored. The Operational Creditor issued a demand notice in Form 3, but no payment or reply was received. The Corporate Debtor claimed that the goods supplied were of inferior quality and that blank cheques were misused. The Operational Creditor filed an affidavit stating that
…Company Petiti…
The Corporate Debtor filed an…