The case pertains to an application filed by M/s. Stellar Corporation, the Operational Creditor, 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 M/s. Sumanglam Impex Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for adhesives supplied from June 2017 to December 2017. Despite repeated requests and reminders, the Corporate Debtor failed to pay the outstanding dues, leading to the issuance of a demand notice under Section 8 of the IBC, 2016. The Corporate Debtor did not respond to the demand notice or raise any dispute.
M/s. Stellar Corporation, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sumanglam Impex Pvt. Ltd., the Corporate Debtor. The Operational Creditor supplied adhesives to the Corporate Debtor from June 2017 to December 2017, raising invoices totaling Rs. 10,94,180/-. Despite repeated follow-ups and reminders, the Corporate Debtor failed to pay the outstanding amount. The Operational Creditor issued a demand notice dated 2019-06-22 under Section 8 of the IBC, 2016, asking the Corporate Debtor to make the payment within 10 days, failing which CIRP would be initiated. The Corporate Debtor did not respond to the demand notice or raise any
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Corporate Debtor entered into transaction…
Operational Creditor…
The case pertains to an application filed by M/s. Stellar Corporation, the Operational Creditor, 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 M/s. Sumanglam Impex Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for adhesives supplied from June 2017 to December 2017. Despite repeated requests and reminders, the Corporate Debtor failed to pay the outstanding dues, leading to the issuance of a demand notice under Section 8 of the IBC, 2016. The Corporate Debtor did not respond to the demand notice or raise any dispute.
M/s. Stellar Corporation, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sumanglam Impex Pvt. Ltd., the Corporate Debtor. The Operational Creditor supplied adhesives to the Corporate Debtor from June 2017 to December 2017, raising invoices totaling Rs. 10,94,180/-. Despite repeated follow-ups and reminders, the Corporate Debtor failed to pay the outstanding amount. The Operational Creditor issued a demand notice dated 2019-06-22 under Section 8 of the IBC, 2016, asking the Corporate Debtor to make the payment within 10 days, failing which CIRP would be initiated. The Corporate Debtor did not respond to the demand notice or raise any
…Corporate Debtor entered into transaction…
Operational Creditor…