Rudra Inc. filed a Company Petition against Teemper Lifestyle Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Rudra Inc. claimed that Teemper Lifestyle Private Limited defaulted on a payment of Rs. 16,03,013/-. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited from January 23, 2016, to June 30, 2016, for which invoices were raised amounting to Rs. 9,55,076/-. Rudra Inc. issued a demand notice on March 1, 2019, demanding the outstanding balance, including interest at 24% per annum. Teemper Lifestyle Private Limited did not repay the dues or reply to the notice.
Rudra Inc. filed a petition against Teemper Lifestyle Private Limited under Sections 8 & 9 of the IBC, 2016, seeking to initiate CIRP due to a default in payment. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited between January 23, 2016, and June 30, 2016, raising invoices for Rs. 9,55,076/-. The invoices stipulated an interest of 24% per annum for delayed payments. Teemper Lifestyle Private Limited acknowledged the debt of Rs. 9,55,076/- in an email dated February 27, 2019. A demand notice was issued on March 1, 2019, for Rs. 16,03,013/-, including interest. Teemper Lifestyle Private Limited claimed a pre-existing dispute regarding the quality and timely delivery of goods and cited economic policy changes (demonetization and GST) as reasons
…Sign in to view the parties.
Rudra Inc. started…
Rudra Inc. completed…
Rudra Inc. filed a Company Petition against Teemper Lifestyle Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Rudra Inc. claimed that Teemper Lifestyle Private Limited defaulted on a payment of Rs. 16,03,013/-. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited from January 23, 2016, to June 30, 2016, for which invoices were raised amounting to Rs. 9,55,076/-. Rudra Inc. issued a demand notice on March 1, 2019, demanding the outstanding balance, including interest at 24% per annum. Teemper Lifestyle Private Limited did not repay the dues or reply to the notice.
Rudra Inc. filed a petition against Teemper Lifestyle Private Limited under Sections 8 & 9 of the IBC, 2016, seeking to initiate CIRP due to a default in payment. Rudra Inc. supplied cotton fabric to Teemper Lifestyle Private Limited between January 23, 2016, and June 30, 2016, raising invoices for Rs. 9,55,076/-. The invoices stipulated an interest of 24% per annum for delayed payments. Teemper Lifestyle Private Limited acknowledged the debt of Rs. 9,55,076/- in an email dated February 27, 2019. A demand notice was issued on March 1, 2019, for Rs. 16,03,013/-, including interest. Teemper Lifestyle Private Limited claimed a pre-existing dispute regarding the quality and timely delivery of goods and cited economic policy changes (demonetization and GST) as reasons
…Rudra Inc. started…
Rudra Inc. completed…