The case involves an application filed by M/s. Kevin Process Technologies Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Swiss Garnier Biotech Private Limited, the Corporate Debtor. The Operational Creditor claimed a sum of Rs.10,97,979/- arising out of transactions related to the supply of machinery and equipment. The Corporate Debtor raised a dispute regarding the quality of the supplied machinery and claimed that the Operational Creditor failed to rectify defects, leading to the withholding of payment.
M/s. Kevin Process Technologies Private Limited (Operational Creditor) filed a petition against M/s. Swiss Garnier Biotech Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming Rs. 10,97,979/- for the supply of machinery. The Corporate Debtor was incorporated on 02.07.2018. The Operational Creditor issued a demand notice on 20.02.2019. The Corporate Debtor issued a notice of dispute on 07.03.2019, referencing a meeting on 15.02.2017 where defects in the supplied machinery were discussed. The Corporate Debtor claimed the Operational Creditor failed to rectify these defects and withheld payment. The Operational Creditor argued there was no prior dispute and sought initiation of CIRP. The Corporate Debtor also claimed the
…Sign in to view the parties.
Joint meeting held between the parties where…
Corporate Debtor sent…
The case involves an application filed by M/s. Kevin Process Technologies Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Swiss Garnier Biotech Private Limited, the Corporate Debtor. The Operational Creditor claimed a sum of Rs.10,97,979/- arising out of transactions related to the supply of machinery and equipment. The Corporate Debtor raised a dispute regarding the quality of the supplied machinery and claimed that the Operational Creditor failed to rectify defects, leading to the withholding of payment.
M/s. Kevin Process Technologies Private Limited (Operational Creditor) filed a petition against M/s. Swiss Garnier Biotech Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming Rs. 10,97,979/- for the supply of machinery. The Corporate Debtor was incorporated on 02.07.2018. The Operational Creditor issued a demand notice on 20.02.2019. The Corporate Debtor issued a notice of dispute on 07.03.2019, referencing a meeting on 15.02.2017 where defects in the supplied machinery were discussed. The Corporate Debtor claimed the Operational Creditor failed to rectify these defects and withheld payment. The Operational Creditor argued there was no prior dispute and sought initiation of CIRP. The Corporate Debtor also claimed the
…Joint meeting held between the parties where…
Corporate Debtor sent…