The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Dalip Narinder Gupta, the Operational Creditor, against M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for 'Printing Inks' supplied between September and December 2013. The Corporate Debtor contested the petition, arguing that the dues were paid within FY 2013-14 and that the petition was barred by limitation.
Mr. Dalip Narinder Gupta, operating as M/s Gem International, is the Operational Creditor, supplying 'Printing Inks' to M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor. The Operational Creditor filed a petition under Section 9 of the IBC, claiming a default of Rs. 4,34,924/-. The supplies were made between September and December 2013, with tax invoices totaling Rs. 5,65,392/-. The Corporate Debtor made payments totaling Rs. 1,30,468/-. The Corporate Debtor issued four cheques between 2015 and 2017, which were dishonored. The Corporate Debtor made a payment of Rs. 12,855/- on 19.01.2019. On 23.05.2019, the Corporate Debtor confirmed the outstanding balance. The Corporate Debtor argued that payments were made within FY 2013-14 and that the petition was barred by
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The Operational Creditor supplied 'Printing…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Dalip Narinder Gupta, the Operational Creditor, against M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for 'Printing Inks' supplied between September and December 2013. The Corporate Debtor contested the petition, arguing that the dues were paid within FY 2013-14 and that the petition was barred by limitation.
Mr. Dalip Narinder Gupta, operating as M/s Gem International, is the Operational Creditor, supplying 'Printing Inks' to M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor. The Operational Creditor filed a petition under Section 9 of the IBC, claiming a default of Rs. 4,34,924/-. The supplies were made between September and December 2013, with tax invoices totaling Rs. 5,65,392/-. The Corporate Debtor made payments totaling Rs. 1,30,468/-. The Corporate Debtor issued four cheques between 2015 and 2017, which were dishonored. The Corporate Debtor made a payment of Rs. 12,855/- on 19.01.2019. On 23.05.2019, the Corporate Debtor confirmed the outstanding balance. The Corporate Debtor argued that payments were made within FY 2013-14 and that the petition was barred by
…The Operational Creditor supplied 'Printing…
The Corporate Debtor issued a cheque dated…