Narpavi Traders, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jaisuba Agro Products Private Limited, the corporate debtor, due to unpaid operational debt.
Narpavi Traders is an operational creditor engaged in supplying milk cream, butter, skimmed milk, and milk powder.
Jaisuba Agro Products Private Limited is a corporate debtor engaged in buying and selling agricultural produce and dairy products.
The operational creditor supplied milk cream products to the corporate debtor from 20.12.2023 to 29.01.2024.
The corporate debtor failed to make payments for the invoices raised by the operational creditor, totaling Rs. 9,50,03,340/-.
The operational creditor issued a demand notice on 31.08.2024, demanding payment of the outstanding amount.
The corporate debtor received the demand notice on 04.09.2024.
The corporate debtor sent a reply notice dated 24.09.2024, admitting the outstanding debt.
The date of default is 20.12.2023.
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The corporate debtor…
The operational creditor supplied goods to…
Narpavi Traders, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jaisuba Agro Products Private Limited, the corporate debtor, due to unpaid operational debt.
Narpavi Traders is an operational creditor engaged in supplying milk cream, butter, skimmed milk, and milk powder.
Jaisuba Agro Products Private Limited is a corporate debtor engaged in buying and selling agricultural produce and dairy products.
The operational creditor supplied milk cream products to the corporate debtor from 20.12.2023 to 29.01.2024.
The corporate debtor failed to make payments for the invoices raised by the operational creditor, totaling Rs. 9,50,03,340/-.
The operational creditor issued a demand notice on 31.08.2024, demanding payment of the outstanding amount.
The corporate debtor received the demand notice on 04.09.2024.
The corporate debtor sent a reply notice dated 24.09.2024, admitting the outstanding debt.
The date of default is 20.12.2023.
…The corporate debtor…
The operational creditor supplied goods to…