M/s Prem Industries, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s S.R. Breweries Pvt. Ltd., the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process. The Corporate Debtor allegedly failed to pay a debt of Rs. 4,74,000/- towards the unpaid price of goods supplied by the Operational Creditor. Notice of the application was sent to the Corporate Debtor but was returned undelivered. The Adjudicating Authority directed the Operational Creditor to publish the notice in newspapers, after which the Corporate Debtor was deemed to have been served notice.
M/s Prem Industries, an Operational Creditor, claimed that M/s S.R. Breweries Pvt. Ltd., the Corporate Debtor, owed them Rs. 4,74,000/- for goods (rice flakes) supplied based on invoices dated 2015-05-24, 2015-05-27, and 2015-06-06. Despite repeated attempts, the Corporate Debtor failed to pay the outstanding amount. The Operational Creditor sent a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, on 2018-02-15, which was deemed served as it was sent to the registered office. The Operational Creditor's bank statement confirmed non-receipt of the claimed amount. The Operational Creditor also filed an affidavit stating that no dispute regarding the claimed amount was received from the Corporate Debtor. The notice sent to the Corporate Debtor was
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M/s Prem Industries, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s S.R. Breweries Pvt. Ltd., the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process. The Corporate Debtor allegedly failed to pay a debt of Rs. 4,74,000/- towards the unpaid price of goods supplied by the Operational Creditor. Notice of the application was sent to the Corporate Debtor but was returned undelivered. The Adjudicating Authority directed the Operational Creditor to publish the notice in newspapers, after which the Corporate Debtor was deemed to have been served notice.
M/s Prem Industries, an Operational Creditor, claimed that M/s S.R. Breweries Pvt. Ltd., the Corporate Debtor, owed them Rs. 4,74,000/- for goods (rice flakes) supplied based on invoices dated 2015-05-24, 2015-05-27, and 2015-06-06. Despite repeated attempts, the Corporate Debtor failed to pay the outstanding amount. The Operational Creditor sent a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, on 2018-02-15, which was deemed served as it was sent to the registered office. The Operational Creditor's bank statement confirmed non-receipt of the claimed amount. The Operational Creditor also filed an affidavit stating that no dispute regarding the claimed amount was received from the Corporate Debtor. The notice sent to the Corporate Debtor was
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