Prime Soles, an operational creditor, filed a company petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Signapurkar's Leather House Private Limited, the corporate debtor, alleging default in payment of Rs. 75,54,594/-. The petitioner claimed to have supplied PU soles to the corporate debtor from 2012 onwards, with the outstanding balance as of 05.08.2017. The corporate debtor denied the liability, claiming that Gulshan International Private Limited supplied the goods through the petitioner, and payments were made to Gulshan. The petitioner argued that no written consent was given for payments to a third party. The corporate debtor also alleged that the operational creditor created fictitious invoices and forged ledger entries, and
…Prime Soles (Petitioner) claimed that Signapurkar's Leather House Private Limited (Corporate Debtor) defaulted on payments amounting to Rs. 75,54,594/- for PU soles supplied since 2012. The Petitioner sent a demand notice dated 08.01.2018 under Section 8 of the IBC. The Corporate Debtor denied liability, stating that Gulshan International supplied the goods through the Petitioner, and payments were made to Gulshan. The Petitioner argued that no written consent was given for payments to Gulshan. The Corporate Debtor issued three dishonored cheques in 2017. The Corporate Debtor claimed the Operational Creditor created fictitious invoices and forged ledger entries and filed a police complaint. The Corporate Debtor acknowledged the debt in its statement of accounts and
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Prime Soles, an operational creditor, filed a company petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Signapurkar's Leather House Private Limited, the corporate debtor, alleging default in payment of Rs. 75,54,594/-. The petitioner claimed to have supplied PU soles to the corporate debtor from 2012 onwards, with the outstanding balance as of 05.08.2017. The corporate debtor denied the liability, claiming that Gulshan International Private Limited supplied the goods through the petitioner, and payments were made to Gulshan. The petitioner argued that no written consent was given for payments to a third party. The corporate debtor also alleged that the operational creditor created fictitious invoices and forged ledger entries, and
…Prime Soles (Petitioner) claimed that Signapurkar's Leather House Private Limited (Corporate Debtor) defaulted on payments amounting to Rs. 75,54,594/- for PU soles supplied since 2012. The Petitioner sent a demand notice dated 08.01.2018 under Section 8 of the IBC. The Corporate Debtor denied liability, stating that Gulshan International supplied the goods through the Petitioner, and payments were made to Gulshan. The Petitioner argued that no written consent was given for payments to Gulshan. The Corporate Debtor issued three dishonored cheques in 2017. The Corporate Debtor claimed the Operational Creditor created fictitious invoices and forged ledger entries and filed a police complaint. The Corporate Debtor acknowledged the debt in its statement of accounts and
…Petitioner started…
Outstanding balance of…