Natroyal Industries Pvt. Ltd., the Operational Creditor, filed an application against Siddhi Vinayak Polymer Pvt. Ltd. (SVPPL), the Corporate Debtor, based on a claim of Rs. 77,37,705/- as of 2018-06-01, arising from the supply of leather clothes. The Corporate Debtor allegedly defaulted on payments for the invoices. The Operational Creditor claimed unpaid invoices, interest for delayed payments at 24% p.a., and a difference due to non-production of C-Forms for inter-state sales. Prior to the Section 8 notice, the Corporate Debtor had issued cheques that were dishonored due to insufficient funds. A Section 8 notice was issued on 2017-12-01, but the petitioner was unsuccessful in serving it through post. The petitioner claims that the Section 8 notice was duly served
…Natroyal Industries Pvt. Ltd. (Operational Creditor) filed an application against Siddhi Vinayak Polymer Pvt. Ltd. (Corporate Debtor) claiming Rs. 77,37,705/- as of 2018-06-01. This claim arose from the supply of leather clothes based on the Corporate Debtor's requisitions. The claim includes unpaid invoices amounting to Rs. 57,82,974/-, interest for delayed payment at 24% p.a. amounting to Rs. 11,26,440/-, and Rs. 8,28,030/- due to the non-production of C-Forms for inter-state sales. The Corporate Debtor had issued cheques for the unpaid invoices, but they were dishonored due to insufficient funds. A Section 8 notice under IBC, 2016 was issued on 2017-12-01. The Operational Creditor claims the Section 8 notice was served via email. The Corporate Debtor failed to
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Section 8 notice of…
Date of filing this…
Natroyal Industries Pvt. Ltd., the Operational Creditor, filed an application against Siddhi Vinayak Polymer Pvt. Ltd. (SVPPL), the Corporate Debtor, based on a claim of Rs. 77,37,705/- as of 2018-06-01, arising from the supply of leather clothes. The Corporate Debtor allegedly defaulted on payments for the invoices. The Operational Creditor claimed unpaid invoices, interest for delayed payments at 24% p.a., and a difference due to non-production of C-Forms for inter-state sales. Prior to the Section 8 notice, the Corporate Debtor had issued cheques that were dishonored due to insufficient funds. A Section 8 notice was issued on 2017-12-01, but the petitioner was unsuccessful in serving it through post. The petitioner claims that the Section 8 notice was duly served
…Natroyal Industries Pvt. Ltd. (Operational Creditor) filed an application against Siddhi Vinayak Polymer Pvt. Ltd. (Corporate Debtor) claiming Rs. 77,37,705/- as of 2018-06-01. This claim arose from the supply of leather clothes based on the Corporate Debtor's requisitions. The claim includes unpaid invoices amounting to Rs. 57,82,974/-, interest for delayed payment at 24% p.a. amounting to Rs. 11,26,440/-, and Rs. 8,28,030/- due to the non-production of C-Forms for inter-state sales. The Corporate Debtor had issued cheques for the unpaid invoices, but they were dishonored due to insufficient funds. A Section 8 notice under IBC, 2016 was issued on 2017-12-01. The Operational Creditor claims the Section 8 notice was served via email. The Corporate Debtor failed to
…Section 8 notice of…
Date of filing this…