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 had approached them to supply soft drinks and juices, and a running account was maintained for the invoices raised and payments received. However, payments became irregular, leading the Operational Creditor to stop supplies after 2019-01-19. Repeated requests for liquidation of dues were made. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonored. A demand notice under Section 8 of the IBC was issued but not responded to. The Operational Creditor then filed the present
…M/s. Shree Bala Ji Super Foods (Operational Creditor) supplied soft drinks and juices to M/s. Yong Mind rest Restaurant Pvt. Ltd. (Corporate Debtor). A running account was maintained for invoices and payments. Payments from the Corporate Debtor became irregular. The Operational Creditor stopped supplies on 2019-01-19. The Corporate Debtor issued a cheque of Rs. 3 lakhs to reduce the liability, but it was dishonored. The Operational Creditor issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code, which was not responded to. The Operational Creditor filed a petition under Section 9 of the IBC. The Corporate Debtor did not appear after notice, and the proceedings were ex-parte.
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Operational Creditor stopped supplying goods…
A 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 had approached them to supply soft drinks and juices, and a running account was maintained for the invoices raised and payments received. However, payments became irregular, leading the Operational Creditor to stop supplies after 2019-01-19. Repeated requests for liquidation of dues were made. The Corporate Debtor issued a cheque of Rs. 3 lakhs, which was dishonored. A demand notice under Section 8 of the IBC was issued but not responded to. The Operational Creditor then filed the present
…M/s. Shree Bala Ji Super Foods (Operational Creditor) supplied soft drinks and juices to M/s. Yong Mind rest Restaurant Pvt. Ltd. (Corporate Debtor). A running account was maintained for invoices and payments. Payments from the Corporate Debtor became irregular. The Operational Creditor stopped supplies on 2019-01-19. The Corporate Debtor issued a cheque of Rs. 3 lakhs to reduce the liability, but it was dishonored. The Operational Creditor issued a demand notice under Section 8 of the Insolvency and Bankruptcy Code, which was not responded to. The Operational Creditor filed a petition under Section 9 of the IBC. The Corporate Debtor did not appear after notice, and the proceedings were ex-parte.
Operational Creditor stopped supplying goods…
A cheque of Rs. 3 lakhs…