M/s Bright Cove Goods, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Adjoin Dreamprojects & Agro Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor had approached them for the supply of brochures and material on credit, promising payment upon supply. An invoice of Rs. 3,15,315/- was raised on 28.02.2019, but the corporate debtor failed to make the payment despite repeated requests and reminders. A demand notice was issued on 29.01.2020 under Section 8 of the IBC, 2016.
M/s Bright Cove Goods, an operational creditor, supplied brochures and materials to M/s Adjoin Dreamprojects & Agro Pvt. Ltd., the corporate debtor, on credit. The corporate debtor promised to make payment upon supply. An invoice for Rs. 3,15,315/- was raised on 28.02.2019. Despite repeated requests and reminders, the corporate debtor failed to make the payment. The corporate debtor admitted that the amount was due but claimed inability to pay due to financial difficulties. The operational creditor issued a demand notice on 29.01.2020 under Section 8 of the IBC, 2016. The corporate debtor failed to comply with the notice. The operational creditor then filed an application under Section 9 of the IBC, 2016, to initiate CIRP. The key fact is the admitted default in
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Operational Creditor…
Operational Creditor issued a demand notice to…
M/s Bright Cove Goods, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Adjoin Dreamprojects & Agro Pvt. Ltd., the corporate debtor. The operational creditor claimed that the corporate debtor had approached them for the supply of brochures and material on credit, promising payment upon supply. An invoice of Rs. 3,15,315/- was raised on 28.02.2019, but the corporate debtor failed to make the payment despite repeated requests and reminders. A demand notice was issued on 29.01.2020 under Section 8 of the IBC, 2016.
M/s Bright Cove Goods, an operational creditor, supplied brochures and materials to M/s Adjoin Dreamprojects & Agro Pvt. Ltd., the corporate debtor, on credit. The corporate debtor promised to make payment upon supply. An invoice for Rs. 3,15,315/- was raised on 28.02.2019. Despite repeated requests and reminders, the corporate debtor failed to make the payment. The corporate debtor admitted that the amount was due but claimed inability to pay due to financial difficulties. The operational creditor issued a demand notice on 29.01.2020 under Section 8 of the IBC, 2016. The corporate debtor failed to comply with the notice. The operational creditor then filed an application under Section 9 of the IBC, 2016, to initiate CIRP. The key fact is the admitted default in
…Operational Creditor…
Operational Creditor issued a demand notice to…