The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Xalta Food and Beverages Private Limited, due to its inability to pay outstanding dues to the Operational Creditor, Nand Kishor Gautam, proprietor of M/s Super Print Services. The Operational Creditor had supplied promotional materials, printed goods, including posters, umbrellas, flex banners, flex boards, key chains, and T-shirts, to the Corporate Debtor on agreed terms and conditions.
Nand Kishor Gautam, proprietor of M/s Super Print Services (Operational Creditor), supplied promotional materials and printed goods to M/s Xalta Food and Beverages Private Limited (Corporate Debtor). The supplies were made on agreed terms and conditions. The Operational Creditor raised invoices for the unpaid amounts. The Corporate Debtor issued a Confirmation of Accounts and Ledger Account admitting its liability to pay an operational debt of Rs. 5,65,013/-. The Operational Creditor issued a demand notice dated 18.05.2018 under Section 8 of the Code. The Corporate Debtor failed to respond or liquidate the debt, citing financial difficulties. Mr. Vishnoo Mittal, Director of the Corporate Debtor, appeared in person and admitted the claim of the Operational Creditor.
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The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Xalta Food and Beverages Private Limited, due to its inability to pay outstanding dues to the Operational Creditor, Nand Kishor Gautam, proprietor of M/s Super Print Services. The Operational Creditor had supplied promotional materials, printed goods, including posters, umbrellas, flex banners, flex boards, key chains, and T-shirts, to the Corporate Debtor on agreed terms and conditions.
Nand Kishor Gautam, proprietor of M/s Super Print Services (Operational Creditor), supplied promotional materials and printed goods to M/s Xalta Food and Beverages Private Limited (Corporate Debtor). The supplies were made on agreed terms and conditions. The Operational Creditor raised invoices for the unpaid amounts. The Corporate Debtor issued a Confirmation of Accounts and Ledger Account admitting its liability to pay an operational debt of Rs. 5,65,013/-. The Operational Creditor issued a demand notice dated 18.05.2018 under Section 8 of the Code. The Corporate Debtor failed to respond or liquidate the debt, citing financial difficulties. Mr. Vishnoo Mittal, Director of the Corporate Debtor, appeared in person and admitted the claim of the Operational Creditor.
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