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 2013 and December 2013. The Corporate Debtor argued that the petition was not maintainable due to limitation and that payments had been made for the invoices in question.
Mr. Dalip Narinder Gupta, operating as M/s Gem International, is the Operational Creditor who supplied 'Printing Inks' to M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor, between September 2013 and December 2013. The total amount due was Rs. 5,65,392, against which the Corporate Debtor made payments aggregating to Rs. 1,30,468, leaving a balance of Rs. 4,34,924. The Corporate Debtor issued four cheques between July 2015 and November 2017 towards the outstanding debt, but all cheques were dishonored. On January 19, 2019, the Corporate Debtor made a payment of Rs. 12,855 towards the debt. On May 23, 2019, the Corporate Debtor confirmed and acknowledged the outstanding debt of Rs. 4,34,924. The Corporate Debtor argued that the petition was not maintainable due to
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Operational Creditor supplied 'Printing Inks'…
Corporate Debtor issued…
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 2013 and December 2013. The Corporate Debtor argued that the petition was not maintainable due to limitation and that payments had been made for the invoices in question.
Mr. Dalip Narinder Gupta, operating as M/s Gem International, is the Operational Creditor who supplied 'Printing Inks' to M/s Shree OM Enterprises Pvt. Ltd., the Corporate Debtor, between September 2013 and December 2013. The total amount due was Rs. 5,65,392, against which the Corporate Debtor made payments aggregating to Rs. 1,30,468, leaving a balance of Rs. 4,34,924. The Corporate Debtor issued four cheques between July 2015 and November 2017 towards the outstanding debt, but all cheques were dishonored. On January 19, 2019, the Corporate Debtor made a payment of Rs. 12,855 towards the debt. On May 23, 2019, the Corporate Debtor confirmed and acknowledged the outstanding debt of Rs. 4,34,924. The Corporate Debtor argued that the petition was not maintainable due to
…Operational Creditor supplied 'Printing Inks'…
Corporate Debtor issued…