Mahadev Trading Company, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Supreet Chemicals Pvt. Ltd, the corporate debtor, for a default amount of Rs. 2,28,72,166/- with interest, dating back to 22.07.2016. The operational creditor claimed to have supplied chemical substances to the corporate debtor based on their demands, raising 24 invoices between 06.07.2016 and 23.10.2016. The corporate debtor allegedly failed to make full payment, leading to the application for CIRP.
Mahadev Trading Company (operational creditor) claimed that Supreet Chemicals Pvt Ltd (corporate debtor) defaulted on payments for chemical substances supplied based on 24 invoices raised between 06.07.2016 and 23.10.2016, totaling Rs. 2,28,72,166/-. The date of default was 22.07.2016. The corporate debtor made a partial payment of Rs. 9,65,130/- against invoice no. 30. The operational creditor issued a demand notice on 15.02.2019, delivered on 25.02.2019. The corporate debtor denied any outstanding dues, claiming the invoices were bogus and that all payments had been made. The corporate debtor also stated that the operational creditor had not specified who contacted them on behalf of the corporate debtor. The operational creditor claimed the corporate debtor
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Mahadev Trading Company, an operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Supreet Chemicals Pvt. Ltd, the corporate debtor, for a default amount of Rs. 2,28,72,166/- with interest, dating back to 22.07.2016. The operational creditor claimed to have supplied chemical substances to the corporate debtor based on their demands, raising 24 invoices between 06.07.2016 and 23.10.2016. The corporate debtor allegedly failed to make full payment, leading to the application for CIRP.
Mahadev Trading Company (operational creditor) claimed that Supreet Chemicals Pvt Ltd (corporate debtor) defaulted on payments for chemical substances supplied based on 24 invoices raised between 06.07.2016 and 23.10.2016, totaling Rs. 2,28,72,166/-. The date of default was 22.07.2016. The corporate debtor made a partial payment of Rs. 9,65,130/- against invoice no. 30. The operational creditor issued a demand notice on 15.02.2019, delivered on 25.02.2019. The corporate debtor denied any outstanding dues, claiming the invoices were bogus and that all payments had been made. The corporate debtor also stated that the operational creditor had not specified who contacted them on behalf of the corporate debtor. The operational creditor claimed the corporate debtor
…First invoice raised by…
The date on which the…