The case involves a petition filed by Butterfly Appliances, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against SRK Kitchen Appliances Private Limited, the corporate debtor, due to unpaid operational debt. The operational creditor claims that they supplied goods/raw materials to the corporate debtor, against which an outstanding amount of Rs. 16,42,032/- remained unpaid despite repeated requests and a demand notice. The corporate debtor failed to respond to the demand notice or clear the outstanding dues.
Butterfly Appliances, the operational creditor, supplied goods/raw materials worth Rs. 23,42,032 to SRK Kitchen Appliances Private Limited, the corporate debtor. The corporate debtor made a partial payment of Rs. 7,00,000, leaving an outstanding balance of Rs. 16,42,032. Butterfly Appliances issued a demand notice dated 2018-03-20 to SRK Kitchen Appliances demanding the outstanding dues, which was delivered on 2018-08-23. The total outstanding due, including principal, interest, and GST, amounted to Rs. 30,91,993. SRK Kitchen Appliances failed to reply to the demand notice or raise any dispute regarding the debt. A cheque issued by the respondent was not credited to the account of the applicant. The operational debt owed by the corporate debtor is more than one lakh
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SRK Kitchen Appliances…
Butterfly Appliances issued a demand notice…
The case involves a petition filed by Butterfly Appliances, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against SRK Kitchen Appliances Private Limited, the corporate debtor, due to unpaid operational debt. The operational creditor claims that they supplied goods/raw materials to the corporate debtor, against which an outstanding amount of Rs. 16,42,032/- remained unpaid despite repeated requests and a demand notice. The corporate debtor failed to respond to the demand notice or clear the outstanding dues.
Butterfly Appliances, the operational creditor, supplied goods/raw materials worth Rs. 23,42,032 to SRK Kitchen Appliances Private Limited, the corporate debtor. The corporate debtor made a partial payment of Rs. 7,00,000, leaving an outstanding balance of Rs. 16,42,032. Butterfly Appliances issued a demand notice dated 2018-03-20 to SRK Kitchen Appliances demanding the outstanding dues, which was delivered on 2018-08-23. The total outstanding due, including principal, interest, and GST, amounted to Rs. 30,91,993. SRK Kitchen Appliances failed to reply to the demand notice or raise any dispute regarding the debt. A cheque issued by the respondent was not credited to the account of the applicant. The operational debt owed by the corporate debtor is more than one lakh
…SRK Kitchen Appliances…
Butterfly Appliances issued a demand notice…