The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Abhimanyu Jaiswal, the sole proprietor of S.R. Electronics (Operational Creditor), against SPG Global Distribution Private Limited (Corporate Debtor). The operational creditor initiated the Corporate Insolvency Resolution Process (CIRP) due to the corporate debtor's failure to supply ZTE mobiles after receiving advance payments. The corporate debtor, a vendor of ZTE mobiles, had appointed the operational creditor as its super-stockist. The operational creditor placed orders and made advance payments, but the corporate debtor failed to supply the mobiles. Consequently, the corporate debtor undertook to repay the amounts. The operational creditor sent an email on
…Abhimanyu Jaiswal, the sole proprietor of S.R. Electronics, is the operational creditor and SPG Global Distribution Private Limited is the corporate debtor. The operational creditor was appointed as a super-stockist by the corporate debtor for ZTE mobiles. The operational creditor placed orders and made advance payments for the supply of ZTE mobiles, but the corporate debtor failed to supply the mobiles. The corporate debtor undertook to repay the amounts, issuing cheques that were subsequently dishonored due to insufficient funds. The operational creditor issued a demand notice on 2018-12-17 under Section 8 of the Insolvency and Bankruptcy Code, 2016, for a debt of ₹22,78,708. The corporate debtor acknowledged the debt in a reply dated 2019-09-27, but disputed the
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Operational creditor addressed an email to…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Abhimanyu Jaiswal, the sole proprietor of S.R. Electronics (Operational Creditor), against SPG Global Distribution Private Limited (Corporate Debtor). The operational creditor initiated the Corporate Insolvency Resolution Process (CIRP) due to the corporate debtor's failure to supply ZTE mobiles after receiving advance payments. The corporate debtor, a vendor of ZTE mobiles, had appointed the operational creditor as its super-stockist. The operational creditor placed orders and made advance payments, but the corporate debtor failed to supply the mobiles. Consequently, the corporate debtor undertook to repay the amounts. The operational creditor sent an email on
…Abhimanyu Jaiswal, the sole proprietor of S.R. Electronics, is the operational creditor and SPG Global Distribution Private Limited is the corporate debtor. The operational creditor was appointed as a super-stockist by the corporate debtor for ZTE mobiles. The operational creditor placed orders and made advance payments for the supply of ZTE mobiles, but the corporate debtor failed to supply the mobiles. The corporate debtor undertook to repay the amounts, issuing cheques that were subsequently dishonored due to insufficient funds. The operational creditor issued a demand notice on 2018-12-17 under Section 8 of the Insolvency and Bankruptcy Code, 2016, for a debt of ₹22,78,708. The corporate debtor acknowledged the debt in a reply dated 2019-09-27, but disputed the
…Operational creditor addressed an email to…
Corporate debtor addressed an e-mail confirming…