M/S Janki Parshad & Company, the Applicant/Operational Creditor, filed an application 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 Sunder Agromills Private Limited, the Respondent/Corporate Debtor. The applicant provided services as an agent/broker to the corporate debtor for selling imported oils and fats in local markets. The applicant raised invoices for these services, and while some payments were made, a total of Rs. 6,54,900/- remained unpaid.
M/S Janki Parshad & Company (Applicant/Operational Creditor) provided services as an agent/broker to M/S Sunder Agromills Private Limited (Respondent/Corporate Debtor) for selling imported oils and fats. The Applicant raised invoices for these services. Two invoices amounting to Rs 73,750/- and Rs 5,81,150/-, totaling Rs. 6,54,900/-, remained unpaid despite reminders. The Applicant issued a demand notice on 05.04.2019. The Corporate Debtor replied on 18.04.2019, assuring payment and enclosing TDS certificates, but no payment was received. The application under Section 9 of IBC was filed on 07.05.2019. The Corporate Debtor admitted its liabilities in a reply dated 15.07.2019, citing unfavorable business conditions. The date of default was 16.03.2018.
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M/S Janki Parshad & Company, the Applicant/Operational Creditor, filed an application 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 Sunder Agromills Private Limited, the Respondent/Corporate Debtor. The applicant provided services as an agent/broker to the corporate debtor for selling imported oils and fats in local markets. The applicant raised invoices for these services, and while some payments were made, a total of Rs. 6,54,900/- remained unpaid.
M/S Janki Parshad & Company (Applicant/Operational Creditor) provided services as an agent/broker to M/S Sunder Agromills Private Limited (Respondent/Corporate Debtor) for selling imported oils and fats. The Applicant raised invoices for these services. Two invoices amounting to Rs 73,750/- and Rs 5,81,150/-, totaling Rs. 6,54,900/-, remained unpaid despite reminders. The Applicant issued a demand notice on 05.04.2019. The Corporate Debtor replied on 18.04.2019, assuring payment and enclosing TDS certificates, but no payment was received. The application under Section 9 of IBC was filed on 07.05.2019. The Corporate Debtor admitted its liabilities in a reply dated 15.07.2019, citing unfavorable business conditions. The date of default was 16.03.2018.
The date on wh…
The Applicant issued a…