The case pertains to an application filed by M/s. Locofast Online Services Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Bee K Bee Prints Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 1,08,75,847/-. The Operational Creditor is in the business of manufacturing textiles and had supplied fabric rolls to the Corporate Debtor based on three purchase orders. While part payment was made for one invoice, the Corporate Debtor failed to pay the outstanding amount for the remaining invoices, leading to the application for CIRP.
M/s. Locofast Online Services Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Bee K Bee Prints Private Limited (Corporate Debtor). The Operational Creditor is in the business of manufacturing textiles. In August 2021, the Corporate Debtor approached the Operational Creditor to purchase fabric rolls. The Corporate Debtor issued three purchase orders: PO No. 014 (dt. 20.09.2021), PO No. 015 (dt. 20.09.2021), and PO No. 018 (dt. 14.10.2021). The Operational Creditor supplied goods under these purchase orders. The Operational Creditor raised invoices for the supplied goods. Invoice No. LF/21-22-09/078 (dt 21.09.2021) for Rs.
…Sign in to view the parties.
The Corporate Debtor approached the Applicant…
The Corporate Debtor…
The case pertains to an application filed by M/s. Locofast Online Services Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Bee K Bee Prints Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 1,08,75,847/-. The Operational Creditor is in the business of manufacturing textiles and had supplied fabric rolls to the Corporate Debtor based on three purchase orders. While part payment was made for one invoice, the Corporate Debtor failed to pay the outstanding amount for the remaining invoices, leading to the application for CIRP.
M/s. Locofast Online Services Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Bee K Bee Prints Private Limited (Corporate Debtor). The Operational Creditor is in the business of manufacturing textiles. In August 2021, the Corporate Debtor approached the Operational Creditor to purchase fabric rolls. The Corporate Debtor issued three purchase orders: PO No. 014 (dt. 20.09.2021), PO No. 015 (dt. 20.09.2021), and PO No. 018 (dt. 14.10.2021). The Operational Creditor supplied goods under these purchase orders. The Operational Creditor raised invoices for the supplied goods. Invoice No. LF/21-22-09/078 (dt 21.09.2021) for Rs.
…The Corporate Debtor approached the Applicant…
The Corporate Debtor…