The case pertains to an application filed by Century Road Transport Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Tyson Retail Services Pvt. Ltd., the Corporate Debtor. The Operational Creditor provided transport services to the Corporate Debtor and raised invoices for these services. A running account was maintained, and payments made by the Corporate Debtor were adjusted against the invoices. The Corporate Debtor acknowledged an outstanding payment of Rs. 12,78,729/-.
Century Road Transport Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Tyson Retail Services Pvt. Ltd. (Corporate Debtor). The Operational Creditor provided transport services to the Corporate Debtor and raised invoices. A running account was maintained, with payments from the Corporate Debtor adjusted against the invoices. The Corporate Debtor acknowledged a due payment of Rs. 12,78,729/-. As of 2019-05-31, the principal amount of Rs. 12,78,729/- plus interest of Rs. 2,88,397/- (at 21% per annum) was outstanding. A demand notice was issued on 2019-05-27 and delivered on 2019-05-30, but no reply was received. The Corporate Debtor
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Operational Creditor…
Demand notice was…
The case pertains to an application filed by Century Road Transport Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Tyson Retail Services Pvt. Ltd., the Corporate Debtor. The Operational Creditor provided transport services to the Corporate Debtor and raised invoices for these services. A running account was maintained, and payments made by the Corporate Debtor were adjusted against the invoices. The Corporate Debtor acknowledged an outstanding payment of Rs. 12,78,729/-.
Century Road Transport Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Tyson Retail Services Pvt. Ltd. (Corporate Debtor). The Operational Creditor provided transport services to the Corporate Debtor and raised invoices. A running account was maintained, with payments from the Corporate Debtor adjusted against the invoices. The Corporate Debtor acknowledged a due payment of Rs. 12,78,729/-. As of 2019-05-31, the principal amount of Rs. 12,78,729/- plus interest of Rs. 2,88,397/- (at 21% per annum) was outstanding. A demand notice was issued on 2019-05-27 and delivered on 2019-05-30, but no reply was received. The Corporate Debtor
…Operational Creditor…
Demand notice was…