The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by DIPY ENTERPRISE (Operational Creditor) against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE (Corporate Debtor) for failure to pay an operational debt. The Operational Creditor supplied medicines to the Corporate Debtor, who allegedly failed to pay the outstanding amount. The Corporate Debtor was given multiple opportunities to respond and participate in mediation, but failed to do so.
DIPY ENTERPRISE, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE, the Corporate Debtor, for non-payment of operational debt. The Operational Creditor claimed to have supplied medicines to the Corporate Debtor, with an outstanding principal amount of Rs. 1,04,71,741/- and interest of Rs. 7,85,380/-, totaling Rs. 1,12,57,121/- as of the filing date. The Corporate Debtor allegedly failed to pay the due amount despite receiving a legal notice on 21.02.2022. A commercial mediation was initiated on 18.05.2022 but failed due to the Corporate Debtor's non-participation. The Operational Creditor issued a notice under Section 8 of the IBC on 07.09.2022, which went
…Sign in to view the parties.
The applicant issued a legal notice calling…
The Operational Creditor filed a commercial…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by DIPY ENTERPRISE (Operational Creditor) against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE (Corporate Debtor) for failure to pay an operational debt. The Operational Creditor supplied medicines to the Corporate Debtor, who allegedly failed to pay the outstanding amount. The Corporate Debtor was given multiple opportunities to respond and participate in mediation, but failed to do so.
DIPY ENTERPRISE, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE, the Corporate Debtor, for non-payment of operational debt. The Operational Creditor claimed to have supplied medicines to the Corporate Debtor, with an outstanding principal amount of Rs. 1,04,71,741/- and interest of Rs. 7,85,380/-, totaling Rs. 1,12,57,121/- as of the filing date. The Corporate Debtor allegedly failed to pay the due amount despite receiving a legal notice on 21.02.2022. A commercial mediation was initiated on 18.05.2022 but failed due to the Corporate Debtor's non-participation. The Operational Creditor issued a notice under Section 8 of the IBC on 07.09.2022, which went
…The applicant issued a legal notice calling…
The Operational Creditor filed a commercial…