The case involves an application filed by M/s Adinath International Private Limited, the operational creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s AVR Overseas Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor claimed that the corporate debtor had an outstanding balance of Rs. 38,28,521/- for providing licenses for exporting various kinds of material. The corporate debtor refuted the claim, stating that the applicant owed money to Ashish Chopra's company, Arinits Sales Private Limited, and that the invoices and licenses were not acknowledged or verified by the corporate debtor.
M/s Adinath International Private Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s AVR Overseas Private Limited (corporate debtor). The operational creditor claimed an outstanding balance of Rs. 38,28,521/- for providing licenses for exporting materials. The corporate debtor argued that the authorized representative of Arinits Sales Pvt. Ltd, Ashish Chopra, had to settle accounts with dealers and was under obligations to offer such an offer. The corporate debtor also stated that Ashish Chopra showed his inability to honor the whole contract on the pretext of inferior good quality of the product and supplied goods of 510 Mt PVC Raisins of an amount of Rs. 3,41,79,221/-. The
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Ashish Chopra showed his inability to honor the…
A meeting was held with Mr. Ashish Chopra and…
The case involves an application filed by M/s Adinath International Private Limited, the operational creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s AVR Overseas Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor claimed that the corporate debtor had an outstanding balance of Rs. 38,28,521/- for providing licenses for exporting various kinds of material. The corporate debtor refuted the claim, stating that the applicant owed money to Ashish Chopra's company, Arinits Sales Private Limited, and that the invoices and licenses were not acknowledged or verified by the corporate debtor.
M/s Adinath International Private Limited (operational creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s AVR Overseas Private Limited (corporate debtor). The operational creditor claimed an outstanding balance of Rs. 38,28,521/- for providing licenses for exporting materials. The corporate debtor argued that the authorized representative of Arinits Sales Pvt. Ltd, Ashish Chopra, had to settle accounts with dealers and was under obligations to offer such an offer. The corporate debtor also stated that Ashish Chopra showed his inability to honor the whole contract on the pretext of inferior good quality of the product and supplied goods of 510 Mt PVC Raisins of an amount of Rs. 3,41,79,221/-. The
…Ashish Chopra showed his inability to honor the…
A meeting was held with Mr. Ashish Chopra and…