The case involves an application filed by M/s Annapurna Polytech Pvt. Ltd. ('Applicant') under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against M/s Ajenta Chemicals (India) Limited ('Corporate Debtor'/'Respondent'). The application is based on an alleged default in repayment of an operational debt amounting to Rs. 39,58,389.52/-. The Corporate Debtor is a public company incorporated on 05.05.1984. The Operational Creditor claims to have supplied custom PET bottles to the Corporate Debtor, who allegedly failed to make payments as per the agreed terms. The Corporate Debtor, however, contends that there was a pre-existing dispute regarding the quality of the supplied bottles and that they
…M/s Annapurna Polytech Pvt. Ltd. ('Applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against M/s Ajenta Chemicals (India) Limited ('Corporate Debtor'/'Respondent') for an alleged default of Rs. 39,58,389.52/-. The Applicant claimed to have supplied custom PET bottles to the Corporate Debtor, who allegedly failed to make payments. The Corporate Debtor contended that there was a pre-existing dispute regarding the quality of the supplied bottles, stating they were only liable to pay for the bottles filled and used. The Corporate Debtor sent emails to the Applicant regarding the faulty supplies, including issues with wall thickness and pinholes. The Applicant,
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M/s Ajenta Ch…
Corporate Debtor…
The case involves an application filed by M/s Annapurna Polytech Pvt. Ltd. ('Applicant') under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against M/s Ajenta Chemicals (India) Limited ('Corporate Debtor'/'Respondent'). The application is based on an alleged default in repayment of an operational debt amounting to Rs. 39,58,389.52/-. The Corporate Debtor is a public company incorporated on 05.05.1984. The Operational Creditor claims to have supplied custom PET bottles to the Corporate Debtor, who allegedly failed to make payments as per the agreed terms. The Corporate Debtor, however, contends that there was a pre-existing dispute regarding the quality of the supplied bottles and that they
…M/s Annapurna Polytech Pvt. Ltd. ('Applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against M/s Ajenta Chemicals (India) Limited ('Corporate Debtor'/'Respondent') for an alleged default of Rs. 39,58,389.52/-. The Applicant claimed to have supplied custom PET bottles to the Corporate Debtor, who allegedly failed to make payments. The Corporate Debtor contended that there was a pre-existing dispute regarding the quality of the supplied bottles, stating they were only liable to pay for the bottles filled and used. The Corporate Debtor sent emails to the Applicant regarding the faulty supplies, including issues with wall thickness and pinholes. The Applicant,
…M/s Ajenta Ch…
Corporate Debtor…