The Petitioner, Samunnati Agro Solution Pvt Ltd, is an Operational Creditor seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, SR Marine Foods Pvt Ltd, under Section 9 of IBC, 2016. They had a Sourcing and Distribution Agreement dated 17.10.2018.
Samunnati Agro Solution Pvt Ltd (Operational Creditor) filed an application under Section 9 of IBC, 2016, to initiate CIRP against SR Marine Foods Pvt Ltd (Corporate Debtor).
The Operational Creditor and Corporate Debtor had a Sourcing and Distribution Agreement dated 17.10.2018.
The Operational Creditor supplied marine products to the Corporate Debtor.
Payments were not forthcoming, leading to Section 138 of the Negotiable Instrument Act, 1881 proceedings and arbitration.
An arbitration award was passed in favor of the Operational Creditor on 16.04.2021.
A Memorandum of Compromise Settlement was entered into on 30.06.2021, but the Corporate Debtor failed to pay the amount.
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Sourcing and Distribution Agreement between…
Arbitration award…
The Petitioner, Samunnati Agro Solution Pvt Ltd, is an Operational Creditor seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, SR Marine Foods Pvt Ltd, under Section 9 of IBC, 2016. They had a Sourcing and Distribution Agreement dated 17.10.2018.
Samunnati Agro Solution Pvt Ltd (Operational Creditor) filed an application under Section 9 of IBC, 2016, to initiate CIRP against SR Marine Foods Pvt Ltd (Corporate Debtor).
The Operational Creditor and Corporate Debtor had a Sourcing and Distribution Agreement dated 17.10.2018.
The Operational Creditor supplied marine products to the Corporate Debtor.
Payments were not forthcoming, leading to Section 138 of the Negotiable Instrument Act, 1881 proceedings and arbitration.
An arbitration award was passed in favor of the Operational Creditor on 16.04.2021.
A Memorandum of Compromise Settlement was entered into on 30.06.2021, but the Corporate Debtor failed to pay the amount.
…Sourcing and Distribution Agreement between…
Arbitration award…