The case involves an application filed by Samskar Financial Services Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Votary Trading Private Limited, the Corporate Debtor. The application is based on the Corporate Debtor's alleged default in paying an operational debt of Rs. 25,66,301/-. The applicant claims to have sold equity shares to the corporate debtor, and the payment for these shares is outstanding.
Samskar Financial Services Private Limited (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Votary Trading Private Limited (the Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on an operational debt of Rs. 25,66,301/-. The debt arose from the sale of 5,00,000 equity shares of Navketan Merchants Limited by the Applicant to the Corporate Debtor at Rs. 4 per share. The Applicant provided a delivery instruction slip dated 03.03.2017, showing the transfer of equity shares to the Corporate Debtor's Demat account. The Applicant maintained a ledger account for the period 03.03.2017 to 21.01.2019, indicating that the debt remained
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The case involves an application filed by Samskar Financial Services Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Votary Trading Private Limited, the Corporate Debtor. The application is based on the Corporate Debtor's alleged default in paying an operational debt of Rs. 25,66,301/-. The applicant claims to have sold equity shares to the corporate debtor, and the payment for these shares is outstanding.
Samskar Financial Services Private Limited (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Votary Trading Private Limited (the Corporate Debtor). The Applicant claimed that the Corporate Debtor defaulted on an operational debt of Rs. 25,66,301/-. The debt arose from the sale of 5,00,000 equity shares of Navketan Merchants Limited by the Applicant to the Corporate Debtor at Rs. 4 per share. The Applicant provided a delivery instruction slip dated 03.03.2017, showing the transfer of equity shares to the Corporate Debtor's Demat account. The Applicant maintained a ledger account for the period 03.03.2017 to 21.01.2019, indicating that the debt remained
…Applicant filled the delivery instruction slip…
Applicant is maintaining a ledger account of…