Pharmarule, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kniss Laboratories Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The claim was for an outstanding operational debt of Rs. 2,49,63,066.82/-, comprising a principal amount and interest, with the date of default stated as 07.12.2023. A demand notice under Section 8 of the IBC was issued on 04.04.2025, but no reply was received from the Corporate Debtor. The Corporate Debtor disputed the claim, alleging that the application was not maintainable due to suppressed facts, returned goods, reconciliation issues, disputed interest, and a pre-existing dispute.

Pharmarule, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kniss Laboratories Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The claim was for an outstanding operational debt of Rs. 2,49,63,066.82/-, comprising a principal amount and interest, with the date of default stated as 07.12.2023. A demand notice under Section 8 of the IBC was issued on 04.04.2025, but no reply was received from the Corporate Debtor. The Corporate Debtor disputed the claim, alleging that the application was not maintainable due to suppressed facts, returned goods, reconciliation issues, disputed interest, and a pre-existing dispute.