The case involves an application filed by Mr. Vijay Kumar Todi, proprietor of M/s V. One, against M/s. Siddarth Organisation Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Todi claims to be an Operational Creditor, alleging that M/s. Siddarth Organisation Limited, the Corporate Debtor, defaulted in paying an amount of Rs. 3,67,297/- for job work carried out by the Applicant. The Corporate Debtor disputes the claim, alleging a pre-existing dispute regarding the quality of work and raising concerns about the validity of the demand notice and the Applicant's accounting practices.
Mr. Vijay Kumar Todi, proprietor of M/s V. One, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Siddarth Organisation Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). Mr. Todi claimed that M/s. Siddarth Organisation Limited defaulted in paying Rs. 3,67,297/- for job work of printing and designing on fabrics. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of work, supported by debit notes issued to the Applicant. The Corporate Debtor also alleged that the demand notice was invalid and that the Applicant's accounting practices were questionable. The Applicant submitted that the Corporate Debtor had deducted TDS on the invoices, which was reflected
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The case involves an application filed by Mr. Vijay Kumar Todi, proprietor of M/s V. One, against M/s. Siddarth Organisation Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Todi claims to be an Operational Creditor, alleging that M/s. Siddarth Organisation Limited, the Corporate Debtor, defaulted in paying an amount of Rs. 3,67,297/- for job work carried out by the Applicant. The Corporate Debtor disputes the claim, alleging a pre-existing dispute regarding the quality of work and raising concerns about the validity of the demand notice and the Applicant's accounting practices.
Mr. Vijay Kumar Todi, proprietor of M/s V. One, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against M/s. Siddarth Organisation Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). Mr. Todi claimed that M/s. Siddarth Organisation Limited defaulted in paying Rs. 3,67,297/- for job work of printing and designing on fabrics. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of work, supported by debit notes issued to the Applicant. The Corporate Debtor also alleged that the demand notice was invalid and that the Applicant's accounting practices were questionable. The Applicant submitted that the Corporate Debtor had deducted TDS on the invoices, which was reflected
…The Corporate Debtor, through its…
Applicant carried out…