The case involves an application filed by an Operational Creditor, Manjeet Cotton Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Subburaj Cotspin Mills Private Limited. The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of an outstanding debt of Rs.79,92,341/-.
Manjeet Cotton Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Subburaj Cotspin Mills Private Limited, the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor for the supply of cotton bales. The Operational Creditor supplied the cotton bales and raised invoices for the same. The Corporate Debtor made part payments but failed to make the balance payment of Rs.79,92,341/-, which included interest. The Operational Creditor issued a demand notice dated 05.07.2017 under Section 8(1) of the I&B Code, 2016, to the Corporate Debtor, but the Corporate Debtor did not reply. The Operational Creditor also
…Sign in to view the parties.
The Operational Creditor issued a Demand…
The matter got listed,…
The case involves an application filed by an Operational Creditor, Manjeet Cotton Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Subburaj Cotspin Mills Private Limited. The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of an outstanding debt of Rs.79,92,341/-.
Manjeet Cotton Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Subburaj Cotspin Mills Private Limited, the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor for the supply of cotton bales. The Operational Creditor supplied the cotton bales and raised invoices for the same. The Corporate Debtor made part payments but failed to make the balance payment of Rs.79,92,341/-, which included interest. The Operational Creditor issued a demand notice dated 05.07.2017 under Section 8(1) of the I&B Code, 2016, to the Corporate Debtor, but the Corporate Debtor did not reply. The Operational Creditor also
…The Operational Creditor issued a Demand…
The matter got listed,…