Vandana Enterprises Pvt. Ltd., the Operational Creditor, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Varun Sacks Pvt. Ltd., the Corporate Debtor, alleging default in payment for goods supplied. The Corporate Debtor allegedly failed to make payment of Rs. 30,72,120/-, which includes a principal amount of Rs. 25,26,621/- and an interest amount of Rs. 5,45,499/- at the rate of 18% per annum.
Vandana Enterprises Pvt. Ltd. (Operational Creditor) filed a petition against Varun Sacks Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of Rs. 30,72,120/-, including a principal amount of Rs. 25,26,621/- and interest of Rs. 5,45,499/-. The Operational Creditor supplied chemicals to the Corporate Debtor. The Corporate Debtor made partial payments on a running account basis but failed to pay certain invoices amounting to Rs. 25,26,621/-. The Operational Creditor sent a demand notice dated 14.08.2019, which was served on 20.08.2019, but received no reply or payment. The Corporate Debtor failed to file a reply or make
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Operational Creditor…
Demand notice s…
Vandana Enterprises Pvt. Ltd., the Operational Creditor, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Varun Sacks Pvt. Ltd., the Corporate Debtor, alleging default in payment for goods supplied. The Corporate Debtor allegedly failed to make payment of Rs. 30,72,120/-, which includes a principal amount of Rs. 25,26,621/- and an interest amount of Rs. 5,45,499/- at the rate of 18% per annum.
Vandana Enterprises Pvt. Ltd. (Operational Creditor) filed a petition against Varun Sacks Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of Rs. 30,72,120/-, including a principal amount of Rs. 25,26,621/- and interest of Rs. 5,45,499/-. The Operational Creditor supplied chemicals to the Corporate Debtor. The Corporate Debtor made partial payments on a running account basis but failed to pay certain invoices amounting to Rs. 25,26,621/-. The Operational Creditor sent a demand notice dated 14.08.2019, which was served on 20.08.2019, but received no reply or payment. The Corporate Debtor failed to file a reply or make
…Operational Creditor…
Demand notice s…