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 alleged default on repayment of operational debt amounting to Rs. 39,58,389.52/-. The Operational Creditor delivered goods as per verbal communication by the authorized representative of the Corporate Debtor. The Operational Creditor intended to execute a contract/agreement to avoid future inconvenience, but the Corporate Debtor assured that a binding agreement would be executed. The Corporate Debtor is a public company incorporated on 05.05.1984. The applicant averred that in
…M/s Annapurna Polytech Pvt. Ltd. (Operational Creditor) filed an application to initiate CIRP against M/s Ajenta Chemicals (India) Limited (Corporate Debtor) for non-payment of Rs. 39,58,389.52/-. The Operational Creditor supplied custom pet bottles to the Corporate Debtor. The Corporate Debtor claimed that the supplied bottles were of substandard quality and issued debit notes. The Corporate Debtor also stated that they were only liable to pay for the bottles filled and used by them. The Operational Creditor claimed that there was no quality dispute and that the Corporate Debtor did not make payments on time. Both parties exchanged email communications regarding the quality of the bottles. The Operational Creditor lodged a police complaint against the directors and
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The Corporate Debtor seized the supplies from…
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 alleged default on repayment of operational debt amounting to Rs. 39,58,389.52/-. The Operational Creditor delivered goods as per verbal communication by the authorized representative of the Corporate Debtor. The Operational Creditor intended to execute a contract/agreement to avoid future inconvenience, but the Corporate Debtor assured that a binding agreement would be executed. The Corporate Debtor is a public company incorporated on 05.05.1984. The applicant averred that in
…M/s Annapurna Polytech Pvt. Ltd. (Operational Creditor) filed an application to initiate CIRP against M/s Ajenta Chemicals (India) Limited (Corporate Debtor) for non-payment of Rs. 39,58,389.52/-. The Operational Creditor supplied custom pet bottles to the Corporate Debtor. The Corporate Debtor claimed that the supplied bottles were of substandard quality and issued debit notes. The Corporate Debtor also stated that they were only liable to pay for the bottles filled and used by them. The Operational Creditor claimed that there was no quality dispute and that the Corporate Debtor did not make payments on time. Both parties exchanged email communications regarding the quality of the bottles. The Operational Creditor lodged a police complaint against the directors and
…The Insolvency and…
The Corporate Debtor seized the supplies from…