The case involves an application filed by Saurav Misira Enterprises Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bihariji Packaging Products Private Limited (Corporate Debtor). The application is based on the Corporate Debtor's failure to pay an outstanding operational debt of Rs. 7,38,67,413. The Operational Creditor supplied goods (Gold Bullion) to the Corporate Debtor, raising invoices from 24.12.2019 to 25.08.2020. Despite repeated follow-ups, the invoices remained unpaid. The Corporate Debtor acknowledged the debt and sought time to settle the dues but failed to make the payment.
Saurav Misira Enterprises 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 Bihariji Packaging Products Private Limited (Corporate Debtor). The application was filed on 27.07.2024. The Operational Creditor supplied Gold Bullion to the Corporate Debtor between 24.12.2019 and 25.08.2020, raising invoices for the same. The total outstanding operational debt amounted to Rs. 7,38,67,413. The date of default was 11.06.2024. The Corporate Debtor made a last payment of Rs. 6,20,000 on 01.03.2024, leaving a balance of Rs. 3,78,87,709. The Operational Creditor issued a demand notice on 31.05.2024, demanding payment of Rs. 7,38,67,413, which
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Operational Creditor…
Operational Creditor…
The case involves an application filed by Saurav Misira Enterprises Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bihariji Packaging Products Private Limited (Corporate Debtor). The application is based on the Corporate Debtor's failure to pay an outstanding operational debt of Rs. 7,38,67,413. The Operational Creditor supplied goods (Gold Bullion) to the Corporate Debtor, raising invoices from 24.12.2019 to 25.08.2020. Despite repeated follow-ups, the invoices remained unpaid. The Corporate Debtor acknowledged the debt and sought time to settle the dues but failed to make the payment.
Saurav Misira Enterprises 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 Bihariji Packaging Products Private Limited (Corporate Debtor). The application was filed on 27.07.2024. The Operational Creditor supplied Gold Bullion to the Corporate Debtor between 24.12.2019 and 25.08.2020, raising invoices for the same. The total outstanding operational debt amounted to Rs. 7,38,67,413. The date of default was 11.06.2024. The Corporate Debtor made a last payment of Rs. 6,20,000 on 01.03.2024, leaving a balance of Rs. 3,78,87,709. The Operational Creditor issued a demand notice on 31.05.2024, demanding payment of Rs. 7,38,67,413, which
…Operational Creditor…
Operational Creditor…