The case involves a Company Petition filed by M/s. Attitude Lifescience Products Private Limited (Operational Creditor/Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Atharva Polymers Private Limited (Corporate Debtor). The petitioner alleges that the corporate debtor defaulted on payments amounting to Rs. 1,21,82,850/- inclusive of interest @24% p.a. as of 30.09.2020, for goods supplied between 01.06.2018 and 01.04.2019.
M/s. Attitude Lifescience Products Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Atharva Polymers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 1,21,82,850/- inclusive of interest @24% p.a. as of 30.09.2020. The debt arose from the supply of plastic granules (goods) by the Operational Creditor to the Corporate Debtor between 01.06.2018 and 01.04.2019. The total value of goods supplied was Rs. 75,20,277.97. The invoices stipulated an interest of 24% p.a. if payments were not made within 45 days of issuance. The Operational Creditor issued a
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Operational Creditor…
Operational Creditor…
The case involves a Company Petition filed by M/s. Attitude Lifescience Products Private Limited (Operational Creditor/Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Atharva Polymers Private Limited (Corporate Debtor). The petitioner alleges that the corporate debtor defaulted on payments amounting to Rs. 1,21,82,850/- inclusive of interest @24% p.a. as of 30.09.2020, for goods supplied between 01.06.2018 and 01.04.2019.
M/s. Attitude Lifescience Products Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Atharva Polymers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 1,21,82,850/- inclusive of interest @24% p.a. as of 30.09.2020. The debt arose from the supply of plastic granules (goods) by the Operational Creditor to the Corporate Debtor between 01.06.2018 and 01.04.2019. The total value of goods supplied was Rs. 75,20,277.97. The invoices stipulated an interest of 24% p.a. if payments were not made within 45 days of issuance. The Operational Creditor issued a
…Operational Creditor…
Operational Creditor…