M/s. Siegwerk India Pvt. Ltd., an operational creditor and manufacturer of printing ink, filed a petition against M/s. Web Tech Packaging (India) Pvt. Ltd., the corporate debtor, seeking initiation of the resolution process under the IBC. Siegwerk had been supplying material to Web Tech Packaging since 2015, maintaining a running account. As per the ledger account, an amount of Rs. 7,21,050 was due. The last payment/credit was made on 2015-10-17, and the petition was filed on 2019-04-18. Three invoices were raised within the three years prior to the petition's institution, but their total amount was less than Rs. 1 lakh. Interest of Rs. 2,42,739 was unilaterally applied on 2017-08-04. The court considered the issue of limitation and the amount of the unpaid invoices.

M/s. Siegwerk India Pvt. Ltd., an operational creditor and manufacturer of printing ink, filed a petition against M/s. Web Tech Packaging (India) Pvt. Ltd., the corporate debtor, seeking initiation of the resolution process under the IBC. Siegwerk had been supplying material to Web Tech Packaging since 2015, maintaining a running account. As per the ledger account, an amount of Rs. 7,21,050 was due. The last payment/credit was made on 2015-10-17, and the petition was filed on 2019-04-18. Three invoices were raised within the three years prior to the petition's institution, but their total amount was less than Rs. 1 lakh. Interest of Rs. 2,42,739 was unilaterally applied on 2017-08-04. The court considered the issue of limitation and the amount of the unpaid invoices.