Hubergroup India Private Limited filed a Company Petition against Shreemataji Graphics Pvt. Ltd. seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition alleges that Shreemataji Graphics Pvt. Ltd. defaulted on a payment of Rs. 1,86,68,025/- plus interest at 24% p.a. The petitioner claims to have supplied goods to the corporate debtor between 2016-04-06 and 2016-06-27, raising invoices for Rs. 1,37,09,017/-. The petitioner issued a demand notice on 2018-02-16, but the corporate debtor neither replied nor repaid the dues.
Hubergroup India Private Limited (Operational Creditor) filed a petition against Shreemataji Graphics Pvt. Ltd. (Corporate Debtor) under Section 8 & 9 of the IBC, 2016, alleging a default in payment. The Operational Creditor claimed that the Corporate Debtor defaulted on 2016-06-05, owing Rs. 1,86,68,025/- plus interest at 24% p.a. The debt arose from the supply of goods between 2016-04-06 and 2016-06-27, for which invoices totaling Rs. 1,37,09,017/- were raised. A demand notice was issued on 2018-02-16, but the Corporate Debtor did not respond or repay the dues. The Operational Creditor enclosed a certificate from ICICI Bank and an affidavit stating that no reply was received from the Corporate Debtor. The Corporate Debtor contested the petition, claiming no cause
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Hubergroup India Private Limited filed a Company Petition against Shreemataji Graphics Pvt. Ltd. seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition alleges that Shreemataji Graphics Pvt. Ltd. defaulted on a payment of Rs. 1,86,68,025/- plus interest at 24% p.a. The petitioner claims to have supplied goods to the corporate debtor between 2016-04-06 and 2016-06-27, raising invoices for Rs. 1,37,09,017/-. The petitioner issued a demand notice on 2018-02-16, but the corporate debtor neither replied nor repaid the dues.
Hubergroup India Private Limited (Operational Creditor) filed a petition against Shreemataji Graphics Pvt. Ltd. (Corporate Debtor) under Section 8 & 9 of the IBC, 2016, alleging a default in payment. The Operational Creditor claimed that the Corporate Debtor defaulted on 2016-06-05, owing Rs. 1,86,68,025/- plus interest at 24% p.a. The debt arose from the supply of goods between 2016-04-06 and 2016-06-27, for which invoices totaling Rs. 1,37,09,017/- were raised. A demand notice was issued on 2018-02-16, but the Corporate Debtor did not respond or repay the dues. The Operational Creditor enclosed a certificate from ICICI Bank and an affidavit stating that no reply was received from the Corporate Debtor. The Corporate Debtor contested the petition, claiming no cause
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The Petitioner…