The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Sh. Harvinder Singh Luthra, proprietor of Sunshine Printers, against Victronics Communications Pvt. Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claims that the corporate debtor failed to liquidate outstanding debts despite repeated requests and a demand notice served under Section 8 of the IBC. The corporate debtor did not appear despite notice.
Sh. Harvinder Singh Luthra, proprietor of Sunshine Printers, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Victronics Communications Pvt. Ltd. Sunshine Printers, the operational creditor, is in the business of supplying corrugated boxes. Victronics Communications, the corporate debtor, which deals in mobile phones, placed various purchase orders with Sunshine Printers. The operational creditor maintained a running account reflecting an outstanding amount of Rs. 17,82,536.61. Despite repeated requests and a demand notice under Section 8 of the IBC, the corporate debtor failed to liquidate the outstanding liability. The corporate debtor did not appear after notice was served.
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Sh. Harvinder Singh Luthra, proprietor of Sunshine Printers, against Victronics Communications Pvt. Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claims that the corporate debtor failed to liquidate outstanding debts despite repeated requests and a demand notice served under Section 8 of the IBC. The corporate debtor did not appear despite notice.
Sh. Harvinder Singh Luthra, proprietor of Sunshine Printers, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Victronics Communications Pvt. Ltd. Sunshine Printers, the operational creditor, is in the business of supplying corrugated boxes. Victronics Communications, the corporate debtor, which deals in mobile phones, placed various purchase orders with Sunshine Printers. The operational creditor maintained a running account reflecting an outstanding amount of Rs. 17,82,536.61. Despite repeated requests and a demand notice under Section 8 of the IBC, the corporate debtor failed to liquidate the outstanding liability. The corporate debtor did not appear after notice was served.
Order delivered on…
The case is scheduled…