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 the payment of Rs. 79,24,592/-. The Operational Creditor filed Form 5 showing the amount of debt as Rs. 91,05,327.63, including amounts towards 'C' forms not being received and probable penalty for 'C' form. The Corporate Debtor contested the petition, raising issues regarding the quality of materials supplied and claiming that blank cheques issued to the Operational Creditor were
…J B Ecotex LLP (Operational Creditor) filed a petition against Shree Hanuman Texfab Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an unpaid operational debt of Rs. 79,24,592/-. The debt arose from the supply of Polyester Staple Fibre by the Operational Creditor to the Corporate Debtor. The Operational Creditor also claimed Rs.9,55,110.62 towards “C” forms not being received and Rs.2,25,625/- towards the probable penalty for 'C' form. The Corporate Debtor issued post-dated cheques to the Operational Creditor, which were subsequently dishonored. The Corporate Debtor contended that the materials supplied were not as per the order and were of inferior quality. They also claimed that it was a trade practice to issue blank
…Sign in to view the parties.
The Operational Creditor issued a Demand Notice…
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 the payment of Rs. 79,24,592/-. The Operational Creditor filed Form 5 showing the amount of debt as Rs. 91,05,327.63, including amounts towards 'C' forms not being received and probable penalty for 'C' form. The Corporate Debtor contested the petition, raising issues regarding the quality of materials supplied and claiming that blank cheques issued to the Operational Creditor were
…J B Ecotex LLP (Operational Creditor) filed a petition against Shree Hanuman Texfab Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an unpaid operational debt of Rs. 79,24,592/-. The debt arose from the supply of Polyester Staple Fibre by the Operational Creditor to the Corporate Debtor. The Operational Creditor also claimed Rs.9,55,110.62 towards “C” forms not being received and Rs.2,25,625/- towards the probable penalty for 'C' form. The Corporate Debtor issued post-dated cheques to the Operational Creditor, which were subsequently dishonored. The Corporate Debtor contended that the materials supplied were not as per the order and were of inferior quality. They also claimed that it was a trade practice to issue blank
…The Operational Creditor issued a Demand Notice…
The Corporate Debtor filed an…