The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Deepinder Singh, Proprietor of Singh Paper and Board, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Beckons Industries Limited. The operational creditor claimed a default of Rs. 11,11,139/- based on unpaid invoices for the supply of printing paper. A demand notice was issued on 05.10.2019. The corporate debtor admitted its liability and inability to pay the debt, citing long illness and the death of its Managing Director.
Deepinder Singh, the proprietor of Singh Paper and Board, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Beckons Industries Limited. The operational creditor, Singh Paper and Board, claimed that Beckons Industries Limited defaulted on a payment of Rs. 11,11,139/- for the supply of printing paper. The invoices were raised, and the material was sent to the corporate debtor. A demand notice in Form 3 was issued on 05.10.2019, and it was duly received by the corporate debtor. The corporate debtor, in its reply, admitted its liability and inability to pay the debt, citing the long illness and untimely death of its Managing Director. The application was filed on 09.12.2019,
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Beckons Industries…
Invoice No. SPB/2016-17/…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Deepinder Singh, Proprietor of Singh Paper and Board, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Beckons Industries Limited. The operational creditor claimed a default of Rs. 11,11,139/- based on unpaid invoices for the supply of printing paper. A demand notice was issued on 05.10.2019. The corporate debtor admitted its liability and inability to pay the debt, citing long illness and the death of its Managing Director.
Deepinder Singh, the proprietor of Singh Paper and Board, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Beckons Industries Limited. The operational creditor, Singh Paper and Board, claimed that Beckons Industries Limited defaulted on a payment of Rs. 11,11,139/- for the supply of printing paper. The invoices were raised, and the material was sent to the corporate debtor. A demand notice in Form 3 was issued on 05.10.2019, and it was duly received by the corporate debtor. The corporate debtor, in its reply, admitted its liability and inability to pay the debt, citing the long illness and untimely death of its Managing Director. The application was filed on 09.12.2019,
…Beckons Industries…
Invoice No. SPB/2016-17/…