The case involves an application filed by Apparels India, an operational creditor (OC), against Aban Exim Pvt. Ltd., the corporate debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Apparels India claimed that Aban Exim Pvt. Ltd. defaulted on payments for goods supplied. The OC delivered the required material as per the order placed by the CD and raised invoices dated 22.10.2022. Despite the delivery of goods and raising of invoices, the CD failed to make the payment for the supplied goods. The OC sent a demand notice dated 12.06.2023 to the CD, but received no reply or payment. The OC claimed a total outstanding amount of Rs. 3,29,11,728.24 along with interest at 36% p.a. The CD made a payment of Rs. 6,80,000 on 22.02.2023, but the balance
…Apparels India, a proprietorship concern, is the operational creditor engaged in the business of supplying apparels. Aban Exim Pvt. Ltd. is the corporate debtor, incorporated under the Companies Act, 1956. In October 2022, Aban Exim approached Apparels India for the supply of garments. Apparels India delivered the goods and raised invoices dated 22.10.2022. The total amount of debt claimed by Apparels India is Rs. 3,29,11,728.24, including interest at 36% p.a. The date of default is 22.02.2023. Aban Exim made a payment of Rs. 6,80,000 on 22.02.2023, but the balance remained unpaid. Apparels India sent a demand notice dated 12.06.2023 under Section 8 and 9 of the IBC, 2016. The corporate debtor did not reply to the demand notice. The corporate debtor confirmed the
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Apparels India raised…
Aban Exim Pvt. Ltd.…
The case involves an application filed by Apparels India, an operational creditor (OC), against Aban Exim Pvt. Ltd., the corporate debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Apparels India claimed that Aban Exim Pvt. Ltd. defaulted on payments for goods supplied. The OC delivered the required material as per the order placed by the CD and raised invoices dated 22.10.2022. Despite the delivery of goods and raising of invoices, the CD failed to make the payment for the supplied goods. The OC sent a demand notice dated 12.06.2023 to the CD, but received no reply or payment. The OC claimed a total outstanding amount of Rs. 3,29,11,728.24 along with interest at 36% p.a. The CD made a payment of Rs. 6,80,000 on 22.02.2023, but the balance
…Apparels India, a proprietorship concern, is the operational creditor engaged in the business of supplying apparels. Aban Exim Pvt. Ltd. is the corporate debtor, incorporated under the Companies Act, 1956. In October 2022, Aban Exim approached Apparels India for the supply of garments. Apparels India delivered the goods and raised invoices dated 22.10.2022. The total amount of debt claimed by Apparels India is Rs. 3,29,11,728.24, including interest at 36% p.a. The date of default is 22.02.2023. Aban Exim made a payment of Rs. 6,80,000 on 22.02.2023, but the balance remained unpaid. Apparels India sent a demand notice dated 12.06.2023 under Section 8 and 9 of the IBC, 2016. The corporate debtor did not reply to the demand notice. The corporate debtor confirmed the
…Apparels India raised…
Aban Exim Pvt. Ltd.…