BLS Polymers Ltd., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Shreeom Wires Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor had defaulted on payments for goods supplied. The operational creditor and corporate debtor had business dealings, with the operational creditor supplying LT XLPE compound. Two invoices, each for Rs. 6,18,750/-, were raised on 10.05.2017 and 30.05.2017. The corporate debtor failed to make timely payments, leading to an accumulation of debt including interest at 18% per annum.
BLS Polymers Ltd. (operational creditor) supplied LT XLPE compound to Shreeom Wires Pvt. Ltd. (corporate debtor) under two purchase orders. Invoices dated 10.05.2017 and 30.05.2017, each for Rs. 6,18,750/-, were raised. The corporate debtor failed to make timely payments, leading to an accumulation of debt including interest at 18% per annum. The total amount due, including interest, was Rs. 14,34,933/-. The corporate debtor issued two cheques, one dated 10.07.2017 and another dated 10.12.2017, each for Rs. 6,18,750/-, which were dishonored. The operational creditor issued a notice under Section 8 of the IBC, which was not replied to. The operational creditor filed a petition under Section 9 of the IBC for initiation of CIRP. The corporate debtor did not appear despite
…Sign in to view the parties.
Invoice raised…
Invoice raised…
BLS Polymers Ltd., the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Shreeom Wires Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor had defaulted on payments for goods supplied. The operational creditor and corporate debtor had business dealings, with the operational creditor supplying LT XLPE compound. Two invoices, each for Rs. 6,18,750/-, were raised on 10.05.2017 and 30.05.2017. The corporate debtor failed to make timely payments, leading to an accumulation of debt including interest at 18% per annum.
BLS Polymers Ltd. (operational creditor) supplied LT XLPE compound to Shreeom Wires Pvt. Ltd. (corporate debtor) under two purchase orders. Invoices dated 10.05.2017 and 30.05.2017, each for Rs. 6,18,750/-, were raised. The corporate debtor failed to make timely payments, leading to an accumulation of debt including interest at 18% per annum. The total amount due, including interest, was Rs. 14,34,933/-. The corporate debtor issued two cheques, one dated 10.07.2017 and another dated 10.12.2017, each for Rs. 6,18,750/-, which were dishonored. The operational creditor issued a notice under Section 8 of the IBC, which was not replied to. The operational creditor filed a petition under Section 9 of the IBC for initiation of CIRP. The corporate debtor did not appear despite
…Invoice raised…
Invoice raised…