The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/S Tri-Wall Pak Private Limited (Operational Creditor) against M/s 5 Core Acoustics Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the corporate debtor defaulted in payment of operational debt. The corporate debtor had placed purchase orders for corrugated boxes with the applicant since April 2017. The applicant raised invoices from February 2019 to November 2019, totaling Rs. 25,56,641.40, which were duly received and acknowledged by the corporate debtor. Despite reminders, the corporate debtor failed to clear the outstanding dues.
M/S Tri-Wall Pak Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s 5 Core Acoustics Private Limited (Corporate Debtor). The Corporate Debtor had placed purchase orders for corrugated boxes with the Operational Creditor since April 2017. The Operational Creditor raised invoices from February 2019 to November 2019, totaling Rs. 25,56,641.40, which were duly received and acknowledged by the Corporate Debtor. The Corporate Debtor made a partial payment of Rs. 22,51,892 towards the invoices. The Operational Creditor sent a demand notice dated 05.11.2019 demanding payment of the unpaid operational debt of Rs. 3,79,342.40. The Corporate Debtor failed to reply to the notice. The application was
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Corporate Debtor placed purchase orders for…
Applicant raised invoices…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/S Tri-Wall Pak Private Limited (Operational Creditor) against M/s 5 Core Acoustics Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the corporate debtor defaulted in payment of operational debt. The corporate debtor had placed purchase orders for corrugated boxes with the applicant since April 2017. The applicant raised invoices from February 2019 to November 2019, totaling Rs. 25,56,641.40, which were duly received and acknowledged by the corporate debtor. Despite reminders, the corporate debtor failed to clear the outstanding dues.
M/S Tri-Wall Pak Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s 5 Core Acoustics Private Limited (Corporate Debtor). The Corporate Debtor had placed purchase orders for corrugated boxes with the Operational Creditor since April 2017. The Operational Creditor raised invoices from February 2019 to November 2019, totaling Rs. 25,56,641.40, which were duly received and acknowledged by the Corporate Debtor. The Corporate Debtor made a partial payment of Rs. 22,51,892 towards the invoices. The Operational Creditor sent a demand notice dated 05.11.2019 demanding payment of the unpaid operational debt of Rs. 3,79,342.40. The Corporate Debtor failed to reply to the notice. The application was
…Corporate Debtor placed purchase orders for…
Applicant raised invoices…