The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Ganesh Rice & General Industries (Operational Creditor) to initiate the Corporate Insolvency process against M/s Umachi Foods and Commodities Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor approached them for the purchase of Basmati Sella Rice, and it was orally agreed that payment would be made promptly upon receipt of goods and invoices. The Operational Creditor supplied the goods and raised invoices, which were received and acknowledged by the Corporate Debtor. Despite requests and reminders, the Corporate Debtor failed to pay
…M/s Ganesh Rice & General Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Umachi Foods and Commodities Pvt. Ltd. (Corporate Debtor) for an operational debt. The Corporate Debtor approached the Operational Creditor for the purchase of Basmati Sella Rice, with an oral agreement for timely payment upon receipt of goods and invoices. The Operational Creditor supplied the goods and raised invoices, which were received and acknowledged by the Corporate Debtor. The Corporate Debtor failed to make payments despite requests and reminders. The Operational Creditor sent a demand notice dated 27.07.2018 under Section 8 of the IBC, 2016, for Rs. 82,00,000/-, including principal and interest. The
…Sign in to view the parties.
The Operational Creditor sent a demand notice…
The Corporate Debtor replied to the demand…
The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by M/s Ganesh Rice & General Industries (Operational Creditor) to initiate the Corporate Insolvency process against M/s Umachi Foods and Commodities Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor approached them for the purchase of Basmati Sella Rice, and it was orally agreed that payment would be made promptly upon receipt of goods and invoices. The Operational Creditor supplied the goods and raised invoices, which were received and acknowledged by the Corporate Debtor. Despite requests and reminders, the Corporate Debtor failed to pay
…M/s Ganesh Rice & General Industries (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Umachi Foods and Commodities Pvt. Ltd. (Corporate Debtor) for an operational debt. The Corporate Debtor approached the Operational Creditor for the purchase of Basmati Sella Rice, with an oral agreement for timely payment upon receipt of goods and invoices. The Operational Creditor supplied the goods and raised invoices, which were received and acknowledged by the Corporate Debtor. The Corporate Debtor failed to make payments despite requests and reminders. The Operational Creditor sent a demand notice dated 27.07.2018 under Section 8 of the IBC, 2016, for Rs. 82,00,000/-, including principal and interest. The
…The Operational Creditor sent a demand notice…
The Corporate Debtor replied to the demand…