This case involves an application filed by M/s. Unox S.p.A (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ambro Asia Private Limited (Corporate Debtor) for an alleged default in clearing a debt of 1,49,090.70 Euros, including simple interest. The Operational Creditor claims that the Corporate Debtor failed to make timely payments for supplied ovens, leading to the outstanding debt. The Corporate Debtor contends that there was a pre-existing dispute regarding the exclusivity of distribution and warranty obligations.
M/s. Unox S.p.A (Operational Creditor), an Italian company, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ambro Asia Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied ovens, resulting in an outstanding debt of 1,49,090.70 Euros, including interest. The debt comprised six unpaid invoices. The Operational Creditor issued a demand notice on 09.07.2020. The Corporate Debtor contended that it was entitled to exclusive distribution rights and that there was a pre-existing dispute. The Corporate Debtor also filed a suit against Unox India Private Limited, a related company of the Operational
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Agreement between Ambro…
Agreement between Ambro…
This case involves an application filed by M/s. Unox S.p.A (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ambro Asia Private Limited (Corporate Debtor) for an alleged default in clearing a debt of 1,49,090.70 Euros, including simple interest. The Operational Creditor claims that the Corporate Debtor failed to make timely payments for supplied ovens, leading to the outstanding debt. The Corporate Debtor contends that there was a pre-existing dispute regarding the exclusivity of distribution and warranty obligations.
M/s. Unox S.p.A (Operational Creditor), an Italian company, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Ambro Asia Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied ovens, resulting in an outstanding debt of 1,49,090.70 Euros, including interest. The debt comprised six unpaid invoices. The Operational Creditor issued a demand notice on 09.07.2020. The Corporate Debtor contended that it was entitled to exclusive distribution rights and that there was a pre-existing dispute. The Corporate Debtor also filed a suit against Unox India Private Limited, a related company of the Operational
…Agreement between Ambro…
Agreement between Ambro…