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 claimed a default 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 corporate debtor allegedly defaulted on payments for brokerage bills raised by the petitioner between 2007 and 2013.
Shri R. Sathyanarayana, an individual and proprietor of 'Sai Krupa', filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Murugarajendra Oil Industry Private Limited. The petitioner claimed to be an operational creditor, engaged in the business of commission agency for oil, oil seeds, and Bengal gram. The petitioner alleged that the corporate debtor defaulted on payments amounting to Rs.9,38,068/- for brokerage bills raised between 2007 and 2013. The corporate debtor had deducted TDS on the commission under Section 192J of the Income Tax Act, 1961, and had acknowledged the outstanding amount in a letter dated 15.12.2018. The petitioner sent a demand notice dated
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M/s.Sri Murugarajendra Oil Industry Private…
The Petitioner raised seven bills and one…
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 claimed a default 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 corporate debtor allegedly defaulted on payments for brokerage bills raised by the petitioner between 2007 and 2013.
Shri R. Sathyanarayana, an individual and proprietor of 'Sai Krupa', filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sri Murugarajendra Oil Industry Private Limited. The petitioner claimed to be an operational creditor, engaged in the business of commission agency for oil, oil seeds, and Bengal gram. The petitioner alleged that the corporate debtor defaulted on payments amounting to Rs.9,38,068/- for brokerage bills raised between 2007 and 2013. The corporate debtor had deducted TDS on the commission under Section 192J of the Income Tax Act, 1961, and had acknowledged the outstanding amount in a letter dated 15.12.2018. The petitioner sent a demand notice dated
…M/s.Sri Murugarajendra Oil Industry Private…
The Petitioner raised seven bills and one…