The case involves an application filed by Ms. Renu Shukla, a partner in Mahadeo Traders, seeking to initiate a corporate insolvency resolution process against Varun Beverages Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mahadeo Traders claimed that Varun Beverages owed them Rs. 38,90,000/- plus interest, related to investments made for a distributorship agreement with Pepsico. The corporate debtor, Varun Beverages, denied the existence of the debt, claiming that Mahadeo Traders' claim was for recovery of investment and damages due to alleged termination of the distributorship.
Ms. Renu Shukla, a partner in the partnership firm M/s. Mahadeo Traders, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against M/s. Varun Beverages Limited. Mahadeo Traders claimed that Varun Beverages owed them Rs. 38,90,000/- plus interest, representing investments made to fulfill the requirements for a sole distributorship agreement with Pepsico. These investments included expenses for preparing a shed, security deposits, purchase of a Tata Truck, and cash investments. A distributorship agreement existed between the operational creditor and Pepsico, granting sole distribution rights to Mahadeo Traders. Varun Beverages allegedly took over the business interest of distributing
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Mahadeo Traders, the partnership firm, was…
Distribution Agreement dated 24.02.2015 executed…
The case involves an application filed by Ms. Renu Shukla, a partner in Mahadeo Traders, seeking to initiate a corporate insolvency resolution process against Varun Beverages Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mahadeo Traders claimed that Varun Beverages owed them Rs. 38,90,000/- plus interest, related to investments made for a distributorship agreement with Pepsico. The corporate debtor, Varun Beverages, denied the existence of the debt, claiming that Mahadeo Traders' claim was for recovery of investment and damages due to alleged termination of the distributorship.
Ms. Renu Shukla, a partner in the partnership firm M/s. Mahadeo Traders, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a corporate insolvency resolution process against M/s. Varun Beverages Limited. Mahadeo Traders claimed that Varun Beverages owed them Rs. 38,90,000/- plus interest, representing investments made to fulfill the requirements for a sole distributorship agreement with Pepsico. These investments included expenses for preparing a shed, security deposits, purchase of a Tata Truck, and cash investments. A distributorship agreement existed between the operational creditor and Pepsico, granting sole distribution rights to Mahadeo Traders. Varun Beverages allegedly took over the business interest of distributing
…Mahadeo Traders, the partnership firm, was…
Distribution Agreement dated 24.02.2015 executed…