Optinova AB, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bio-Med HealthCare Products Private Limited, the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for medical tubing supplied between October 2017 and March 2018, amounting to Euro 320,406.72. Despite reminders and a demand notice, the corporate debtor allegedly failed to pay the outstanding amount. The corporate debtor acknowledged the debt but claimed to have made partial payments and disputed the remaining amount. The corporate debtor also alleged that a cyber fraud had been committed against it, with payments being

Optinova AB, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bio-Med HealthCare Products Private Limited, the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted in making payments for medical tubing supplied between October 2017 and March 2018, amounting to Euro 320,406.72. Despite reminders and a demand notice, the corporate debtor allegedly failed to pay the outstanding amount. The corporate debtor acknowledged the debt but claimed to have made partial payments and disputed the remaining amount. The corporate debtor also alleged that a cyber fraud had been committed against it, with payments being