The case involves a petition filed by M/s. Ambe Agrofoods Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed that they supplied rice to the Corporate Debtor between 19.06.2018 and 01.12.2018, for which invoices were raised and accepted without any demur or protest. The total amount claimed under the invoices was Rs. 38,60,093.60, including interest at 12%.
M/s Ambe Agrofoods Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed to have supplied rice to the Corporate Debtor from 19.06.2018 to 01.12.2018. The invoices were allegedly delivered and accepted by the Corporate Debtor without any protest. The total amount claimed was Rs. 38,60,093.60, including 12% interest. The last payment received by the Operational Creditor was Rs. 50,000 on 11.03.2019. A cheque for Rs. 8,70,096 issued by the Respondent on 28.11.2018 was dishonored due to 'payment stopped by Drawer'. A demand notice dated 26.03.2019 was sent under
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Operational Creditor…
Respondent issues a…
The case involves a petition filed by M/s. Ambe Agrofoods Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed that they supplied rice to the Corporate Debtor between 19.06.2018 and 01.12.2018, for which invoices were raised and accepted without any demur or protest. The total amount claimed under the invoices was Rs. 38,60,093.60, including interest at 12%.
M/s Ambe Agrofoods Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s U V Exports Private Limited (Corporate Debtor). The Operational Creditor claimed to have supplied rice to the Corporate Debtor from 19.06.2018 to 01.12.2018. The invoices were allegedly delivered and accepted by the Corporate Debtor without any protest. The total amount claimed was Rs. 38,60,093.60, including 12% interest. The last payment received by the Operational Creditor was Rs. 50,000 on 11.03.2019. A cheque for Rs. 8,70,096 issued by the Respondent on 28.11.2018 was dishonored due to 'payment stopped by Drawer'. A demand notice dated 26.03.2019 was sent under
…Operational Creditor…
Respondent issues a…