M/s. Ramesh T. Mehta (HUF), through its Karta Shri Ramesh T. Mehta, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Winsome Diamonds & Jewellery Limited, referred to as the 'Corporate Debtor'. The petitioner, an operational creditor, claimed that the corporate debtor defaulted in payment for services provided, specifically cutting and polishing rough diamonds. The corporate debtor acknowledged the debt and made partial payments but failed to clear the outstanding dues.
M/s. Ramesh T. Mehta (HUF), the petitioner, is engaged in providing labor services for cutting and polishing diamonds. Winsome Diamonds & Jewellery Limited, the respondent, is a company engaged in the business of manufacturing necklaces and required laborers for cutting and polishing diamonds. Between the financial years 2012-2013, the petitioner provided services to the respondent for polishing and cutting rough diamonds. The petitioner raised invoices for these services, totaling Rs. 29,48,386. The respondent acknowledged the amount, deducted tax, and issued TDS certificates. The respondent made partial payments of Rs. 11,89,390 after repeated demands and legal notices. The petitioner issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code on
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Invoice raised…
Invoice raised…
M/s. Ramesh T. Mehta (HUF), through its Karta Shri Ramesh T. Mehta, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Winsome Diamonds & Jewellery Limited, referred to as the 'Corporate Debtor'. The petitioner, an operational creditor, claimed that the corporate debtor defaulted in payment for services provided, specifically cutting and polishing rough diamonds. The corporate debtor acknowledged the debt and made partial payments but failed to clear the outstanding dues.
M/s. Ramesh T. Mehta (HUF), the petitioner, is engaged in providing labor services for cutting and polishing diamonds. Winsome Diamonds & Jewellery Limited, the respondent, is a company engaged in the business of manufacturing necklaces and required laborers for cutting and polishing diamonds. Between the financial years 2012-2013, the petitioner provided services to the respondent for polishing and cutting rough diamonds. The petitioner raised invoices for these services, totaling Rs. 29,48,386. The respondent acknowledged the amount, deducted tax, and issued TDS certificates. The respondent made partial payments of Rs. 11,89,390 after repeated demands and legal notices. The petitioner issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code on
…Invoice raised…
Invoice raised…