The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Krishna Textile, an operational creditor, against M/s. Bharat Trade Link Pvt. Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The applicant claims that they supplied goods (kurties/garments) to the respondent between 01.07.2016 and 19.07.2016, amounting to Rs. 6,06,171, which were duly received and acknowledged. Despite repeated reminders, the respondent failed to make the payment. The applicant also claimed interest of Rs. 2,81,810 on the overdue payment. The respondent raised objections, including that the application was not maintainable, the claim was time-barred, and the goods were not delivered.
M/s. Krishna Textile, the applicant and operational creditor, supplied kurties/garments to M/s. Bharat Trade Link Pvt. Ltd., the respondent and corporate debtor, between 01.07.2016 and 19.07.2016. The total amount due for these supplies was Rs. 6,06,171. The applicant dispatched the goods through various delivery challans, which the respondent duly received and acknowledged. Despite repeated reminders and follow-ups, the respondent failed to make the payment. The applicant sent a demand notice under Section 8 of the IBC on 31.07.2018, claiming the outstanding amount along with interest of Rs. 2,81,810. The respondent raised objections, claiming that the application was not maintainable, the claim was time-barred, and the goods were not delivered. The applicant
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The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Krishna Textile, an operational creditor, against M/s. Bharat Trade Link Pvt. Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The applicant claims that they supplied goods (kurties/garments) to the respondent between 01.07.2016 and 19.07.2016, amounting to Rs. 6,06,171, which were duly received and acknowledged. Despite repeated reminders, the respondent failed to make the payment. The applicant also claimed interest of Rs. 2,81,810 on the overdue payment. The respondent raised objections, including that the application was not maintainable, the claim was time-barred, and the goods were not delivered.
M/s. Krishna Textile, the applicant and operational creditor, supplied kurties/garments to M/s. Bharat Trade Link Pvt. Ltd., the respondent and corporate debtor, between 01.07.2016 and 19.07.2016. The total amount due for these supplies was Rs. 6,06,171. The applicant dispatched the goods through various delivery challans, which the respondent duly received and acknowledged. Despite repeated reminders and follow-ups, the respondent failed to make the payment. The applicant sent a demand notice under Section 8 of the IBC on 31.07.2018, claiming the outstanding amount along with interest of Rs. 2,81,810. The respondent raised objections, claiming that the application was not maintainable, the claim was time-barred, and the goods were not delivered. The applicant
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