The case involves an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Anita Bhalotia, proprietor of M/s. Reliable Coal Carriers (Operational Creditor), against M/s. Todi Tea Company Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in paying an operational debt of Rs. 27,40,402/-. The Corporate Debtor raised a defense of a pre-existing dispute and claimed to have paid the entire amount, with only Rs. 16,853/- remaining due. The Operational Creditor argued that the Corporate Debtor committed default in paying operational debt of more than Rs. 1 Lakh despite receiving a demand notice.
Anita Bhalotia, the proprietor of M/s. Reliable Coal Carriers (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Todi Tea Company Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted in paying an operational debt of Rs. 27,40,402/-. The Operational Creditor had supplied coal to the Corporate Debtor between June 2013 and December 2015 and raised invoices. The total outstanding amount was Rs. 42,15,828/-, out of which the Corporate Debtor paid Rs. 14,75,426/-. The Operational Creditor served a demand notice on 18.01.2018 under Section 8 of the IBC, which the Corporate Debtor allegedly did not reply to. The Corporate Debtor argued that there
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Operational Creditor sold and supplied goods…
Operational Creditor sold and supplied goods…
The case involves an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Anita Bhalotia, proprietor of M/s. Reliable Coal Carriers (Operational Creditor), against M/s. Todi Tea Company Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted in paying an operational debt of Rs. 27,40,402/-. The Corporate Debtor raised a defense of a pre-existing dispute and claimed to have paid the entire amount, with only Rs. 16,853/- remaining due. The Operational Creditor argued that the Corporate Debtor committed default in paying operational debt of more than Rs. 1 Lakh despite receiving a demand notice.
Anita Bhalotia, the proprietor of M/s. Reliable Coal Carriers (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Todi Tea Company Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted in paying an operational debt of Rs. 27,40,402/-. The Operational Creditor had supplied coal to the Corporate Debtor between June 2013 and December 2015 and raised invoices. The total outstanding amount was Rs. 42,15,828/-, out of which the Corporate Debtor paid Rs. 14,75,426/-. The Operational Creditor served a demand notice on 18.01.2018 under Section 8 of the IBC, which the Corporate Debtor allegedly did not reply to. The Corporate Debtor argued that there
…Operational Creditor sold and supplied goods…
Operational Creditor sold and supplied goods…