The case involves an application by an Operational Creditor, M/s. Shree Bala Ji Super Foods, against a Corporate Debtor, M/s. Yong Mind rest Restaurant Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of soft drinks and juices. The Corporate Debtor's payments became irregular, leading the Operational Creditor to stop supplies after 2019-01-19. Repeated requests and reminders were sent to the Corporate Debtor to liquidate their dues. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonoured. A demand notice under Section 8 of the IBC was issued but not responded to.
M/s. Shree Bala Ji Super Foods (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Yong Mind rest Restaurant Pvt. Ltd. (Corporate Debtor). The Operational Creditor supplied soft drinks and juices to the Corporate Debtor, maintaining a running account. Payments from the Corporate Debtor became irregular, leading the Operational Creditor to cease supplies after January 19, 2019. Repeated requests for payment were made. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonoured. A demand notice under Section 8 of the IBC was issued but received no response. The Corporate Debtor did not appear after notice, leading to ex-parte proceedings. The absence of any pre-existing dispute was noted. The
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Operational Creditor…
Cheque of Rs. 3 lakhs…
The case involves an application by an Operational Creditor, M/s. Shree Bala Ji Super Foods, against a Corporate Debtor, M/s. Yong Mind rest Restaurant Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of soft drinks and juices. The Corporate Debtor's payments became irregular, leading the Operational Creditor to stop supplies after 2019-01-19. Repeated requests and reminders were sent to the Corporate Debtor to liquidate their dues. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonoured. A demand notice under Section 8 of the IBC was issued but not responded to.
M/s. Shree Bala Ji Super Foods (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Yong Mind rest Restaurant Pvt. Ltd. (Corporate Debtor). The Operational Creditor supplied soft drinks and juices to the Corporate Debtor, maintaining a running account. Payments from the Corporate Debtor became irregular, leading the Operational Creditor to cease supplies after January 19, 2019. Repeated requests for payment were made. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonoured. A demand notice under Section 8 of the IBC was issued but received no response. The Corporate Debtor did not appear after notice, leading to ex-parte proceedings. The absence of any pre-existing dispute was noted. The
…Operational Creditor…
Cheque of Rs. 3 lakhs…