M/s. Raaj Unocal Lubricants Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Swastik Pipe Ltd. The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of lubricant oils. The application was filed based on invoices issued in May 2017, with an outstanding debt of Rs. 1,72,982/- plus interest. The applicant served a demand notice dated 25.09.2018 under Section 8 of the IBC. The respondent, M/s. Swastik Pipe Ltd., argued that there was a pre-existing dispute regarding the quality of the supplied goods, which was communicated to the applicant via email dated 06.06.2017.
M/s. Raaj Unocal Lubricants Ltd. (Applicant/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. Swastik Pipe Ltd. (Respondent/Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for the supply of lubricant oils. The applicant is a company incorporated on 26.12.1990. The respondent is a company incorporated on 10.10.1973. The applicant supplied lubricant oils to the respondent based on purchase orders. Invoices were raised, including Invoice No. RULL/17-18/0037 dated 04.05.2017 and Invoice No. RULL/17-18/0051 dated 13.05.2017. The corporate debtor was obligated to pay Rs. 2,22,714/-. The services were completed
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M/s. Swasti…
M/s. Raaj U…
M/s. Raaj Unocal Lubricants Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Swastik Pipe Ltd. The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of lubricant oils. The application was filed based on invoices issued in May 2017, with an outstanding debt of Rs. 1,72,982/- plus interest. The applicant served a demand notice dated 25.09.2018 under Section 8 of the IBC. The respondent, M/s. Swastik Pipe Ltd., argued that there was a pre-existing dispute regarding the quality of the supplied goods, which was communicated to the applicant via email dated 06.06.2017.
M/s. Raaj Unocal Lubricants Ltd. (Applicant/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. Swastik Pipe Ltd. (Respondent/Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for the supply of lubricant oils. The applicant is a company incorporated on 26.12.1990. The respondent is a company incorporated on 10.10.1973. The applicant supplied lubricant oils to the respondent based on purchase orders. Invoices were raised, including Invoice No. RULL/17-18/0037 dated 04.05.2017 and Invoice No. RULL/17-18/0051 dated 13.05.2017. The corporate debtor was obligated to pay Rs. 2,22,714/-. The services were completed
…M/s. Swasti…
M/s. Raaj U…