The case involves an application filed by Shri R. Sathyanarayana, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Murugarajendra Oil Industry Private Limited, the corporate debtor. The operational creditor claims that the corporate debtor defaulted on a total outstanding amount of Rs. 9,38,068/-. The petitioner is a commission agent for oil, oil seeds, and Bengal gram, and helped the corporate debtor procure these items for commission. The petitioner raised bills for the years 2007 to 2013, which remained unpaid despite repeated reminders. The respondent acknowledged the outstanding amount in a letter dated 15.12.2018, and the petitioner sent a
…Shri R. Sathyanarayana, the petitioner, is an operational creditor and proprietor of 'Sai Krupa', engaged in the business of commission agency for oil, oil seeds, and Bengal gram. M/s. Sri Murugarajendra Oil Industry Private Limited, the respondent, is the corporate debtor, incorporated on 10.08.1984. The petitioner claims that the corporate debtor owes him Rs. 9,38,068/- for unpaid commission from 2007 to 2013. The petitioner helped the corporate debtor in procuring oil and oil seeds for commission. The respondent deducted TDS on the commission under Section 192J of the Income Tax Act, 1961. The respondent acknowledged the outstanding amount in a letter dated 15.12.2018. The petitioner sent a demand notice dated 15.02.2019 under Section 8 of the IBC. The petitioner
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M/s. Sri Murugarajendra…
The period from which…
The case involves an application filed by Shri R. Sathyanarayana, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Murugarajendra Oil Industry Private Limited, the corporate debtor. The operational creditor claims that the corporate debtor defaulted on a total outstanding amount of Rs. 9,38,068/-. The petitioner is a commission agent for oil, oil seeds, and Bengal gram, and helped the corporate debtor procure these items for commission. The petitioner raised bills for the years 2007 to 2013, which remained unpaid despite repeated reminders. The respondent acknowledged the outstanding amount in a letter dated 15.12.2018, and the petitioner sent a
…Shri R. Sathyanarayana, the petitioner, is an operational creditor and proprietor of 'Sai Krupa', engaged in the business of commission agency for oil, oil seeds, and Bengal gram. M/s. Sri Murugarajendra Oil Industry Private Limited, the respondent, is the corporate debtor, incorporated on 10.08.1984. The petitioner claims that the corporate debtor owes him Rs. 9,38,068/- for unpaid commission from 2007 to 2013. The petitioner helped the corporate debtor in procuring oil and oil seeds for commission. The respondent deducted TDS on the commission under Section 192J of the Income Tax Act, 1961. The respondent acknowledged the outstanding amount in a letter dated 15.12.2018. The petitioner sent a demand notice dated 15.02.2019 under Section 8 of the IBC. The petitioner
…M/s. Sri Murugarajendra…
The period from which…