Hiralal Lunawat, representing Sahara Export, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against About U Fashions Private Limited, alleging unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor owed Rs. 46,19,815.71/- as of 30.06.2019, including interest, for the supply of textile items between 08.06.2016 and 23.10.2018. The Corporate Debtor contested the petition, arguing that the person filing the petition was not authorized, that there was a prior settlement agreement for a lesser amount, and that significant payments had already been made.
Hiralal Lunawat, representing Sahara Export (Operational Creditor), filed a petition against About U Fashions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed an outstanding debt of Rs. 46,19,815.71/- as of 30.06.2019, including interest, for textile supplies between 08.06.2016 and 23.10.2018. The Corporate Debtor argued that the petition was filed by an unauthorized person, as the proprietor of the Operational Creditor was Ms. Kusum Soni. The Corporate Debtor also pointed to a settlement MoU dated 05.07.2019, where the outstanding amount was stated as Rs. 21,07,200/-. Furthermore, the Corporate Debtor claimed to have made payments totaling Rs. 15,47,059/- before the demand notice and
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About U Fashions…
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Hiralal Lunawat, representing Sahara Export, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against About U Fashions Private Limited, alleging unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor owed Rs. 46,19,815.71/- as of 30.06.2019, including interest, for the supply of textile items between 08.06.2016 and 23.10.2018. The Corporate Debtor contested the petition, arguing that the person filing the petition was not authorized, that there was a prior settlement agreement for a lesser amount, and that significant payments had already been made.
Hiralal Lunawat, representing Sahara Export (Operational Creditor), filed a petition against About U Fashions Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed an outstanding debt of Rs. 46,19,815.71/- as of 30.06.2019, including interest, for textile supplies between 08.06.2016 and 23.10.2018. The Corporate Debtor argued that the petition was filed by an unauthorized person, as the proprietor of the Operational Creditor was Ms. Kusum Soni. The Corporate Debtor also pointed to a settlement MoU dated 05.07.2019, where the outstanding amount was stated as Rs. 21,07,200/-. Furthermore, the Corporate Debtor claimed to have made payments totaling Rs. 15,47,059/- before the demand notice and
…About U Fashions…
The period for which invoices were raised by…