Calzini Fashions Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Shristi Plywood Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The operational creditor claimed that the corporate debtor defaulted on payments for supplied fabric and garments, leading to a total unpaid debt of ₹3,16,057.25/- as of 22.03.2018. The corporate debtor acknowledged the debt but failed to make the payment despite reminders and a demand notice.
Calzini Fashions Limited (Operational Creditor) supplied fabric and garments to Shristi Plywood Pvt. Ltd. (Corporate Debtor) based on purchase orders. In March 2018, Calzini Fashions honored the orders and supplied the materials, raising several invoices. The Corporate Debtor defaulted on payments, leading to an unpaid operational debt of ₹3,16,057.25/- as of 22.03.2018. This amount includes a partial payment default of ₹39,697.25/- against Invoice No.CFDL/17-18/0256 dated 17.03.2018 and full payment default of ₹2,76,360.00/- against Invoice No.CFDL/17-18/0258 dated 22.03.2018. The Operational Creditor sent a demand notice on 25.03.2019, but the Corporate Debtor did not reply or dispute the debt. The Corporate Debtor acknowledged the debt in a letter dated 03.01.2019,
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Calzini Fashions Limited supplied fabric and…
Shristi Plywood Pvt. Ltd. defaulted on payments,…
Calzini Fashions Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Shristi Plywood Pvt. Ltd., the corporate debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The operational creditor claimed that the corporate debtor defaulted on payments for supplied fabric and garments, leading to a total unpaid debt of ₹3,16,057.25/- as of 22.03.2018. The corporate debtor acknowledged the debt but failed to make the payment despite reminders and a demand notice.
Calzini Fashions Limited (Operational Creditor) supplied fabric and garments to Shristi Plywood Pvt. Ltd. (Corporate Debtor) based on purchase orders. In March 2018, Calzini Fashions honored the orders and supplied the materials, raising several invoices. The Corporate Debtor defaulted on payments, leading to an unpaid operational debt of ₹3,16,057.25/- as of 22.03.2018. This amount includes a partial payment default of ₹39,697.25/- against Invoice No.CFDL/17-18/0256 dated 17.03.2018 and full payment default of ₹2,76,360.00/- against Invoice No.CFDL/17-18/0258 dated 22.03.2018. The Operational Creditor sent a demand notice on 25.03.2019, but the Corporate Debtor did not reply or dispute the debt. The Corporate Debtor acknowledged the debt in a letter dated 03.01.2019,
…Calzini Fashions Limited supplied fabric and…
Shristi Plywood Pvt. Ltd. defaulted on payments,…