M.S. Enterprise, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Shreenidhi Woodtech P. Ltd. The petitioner claimed that Shreenidhi Woodtech P. Ltd. had defaulted in making payments for goods sold and delivered. The petitioner had previously filed a winding-up petition before the High Court of Gujarat, which was later transferred to the NCLT and withdrawn with the liberty to file a fresh application.
M.S. Enterprise, a sole proprietorship, filed a petition as an operational creditor against Shreenidhi Woodtech P. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. M.S. Enterprise claimed that it had sold goods to Shreenidhi Woodtech P. Ltd. under various invoices, but the latter failed to make payments. The outstanding amount, including interest, was claimed to be Rs. 4,58,965 as of 04.09.2017. A demand notice in Form 3 was issued to Shreenidhi Woodtech P. Ltd. on 04.09.2017, but no reply or payment was received. M.S. Enterprise had previously filed a winding-up petition in the High Court of Gujarat, which was transferred to the NCLT and later withdrawn with the liberty to file a fresh application. Shreenidhi Woodtech P. Ltd. did not appear before the
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M.S. Enterprise issued a demand notice in Form 3…
The NCLT Ahmedabad Bench admitted the petition…
M.S. Enterprise, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Shreenidhi Woodtech P. Ltd. The petitioner claimed that Shreenidhi Woodtech P. Ltd. had defaulted in making payments for goods sold and delivered. The petitioner had previously filed a winding-up petition before the High Court of Gujarat, which was later transferred to the NCLT and withdrawn with the liberty to file a fresh application.
M.S. Enterprise, a sole proprietorship, filed a petition as an operational creditor against Shreenidhi Woodtech P. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. M.S. Enterprise claimed that it had sold goods to Shreenidhi Woodtech P. Ltd. under various invoices, but the latter failed to make payments. The outstanding amount, including interest, was claimed to be Rs. 4,58,965 as of 04.09.2017. A demand notice in Form 3 was issued to Shreenidhi Woodtech P. Ltd. on 04.09.2017, but no reply or payment was received. M.S. Enterprise had previously filed a winding-up petition in the High Court of Gujarat, which was transferred to the NCLT and later withdrawn with the liberty to file a fresh application. Shreenidhi Woodtech P. Ltd. did not appear before the
…M.S. Enterprise issued a demand notice in Form 3…
The NCLT Ahmedabad Bench admitted the petition…