The petition was filed by the operational creditor (M/s BP Agency HYD) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against the corporate debtor (M/s BN Pack Corrugated Private Limited) for an outstanding debt of Rs. 1,43,74,047/-, which includes a principal amount of Rs. 1,31,29,245/- and interest of Rs. 12,44,802/- computed at 24% per annum until 31.07.2022. The operational creditor is engaged in the business of trading paperboards and specialty papers, while the corporate debtor manufactures corrugated boxes. The corporate debtor has filed a reply stating that the operational creditor failed to supply the complete order, and they had to purchase paper from TNPL, incurring losses.
M/s BP Agency HYD, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s BN Pack Corrugated Private Limited, the corporate debtor. The total outstanding debt claimed was Rs. 1,43,74,047/-, including a principal amount of Rs. 1,31,29,245/- and interest of Rs. 12,44,802/-. The operational creditor supplied paper to the corporate debtor based on several invoices between December 2021 and March 2022. The corporate debtor claimed that the operational creditor failed to supply the complete order of 420 tons, resulting in a shortfall of 262 tons. The corporate debtor then purchased paper from TNPL, incurring losses of Rs. 1,39,34,726/-. The corporate debtor initiated pre-litigation mediation on
…Sign in to view the parties.
The Demand Notice was…
Pre-litigation mediation…
The petition was filed by the operational creditor (M/s BP Agency HYD) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against the corporate debtor (M/s BN Pack Corrugated Private Limited) for an outstanding debt of Rs. 1,43,74,047/-, which includes a principal amount of Rs. 1,31,29,245/- and interest of Rs. 12,44,802/- computed at 24% per annum until 31.07.2022. The operational creditor is engaged in the business of trading paperboards and specialty papers, while the corporate debtor manufactures corrugated boxes. The corporate debtor has filed a reply stating that the operational creditor failed to supply the complete order, and they had to purchase paper from TNPL, incurring losses.
M/s BP Agency HYD, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s BN Pack Corrugated Private Limited, the corporate debtor. The total outstanding debt claimed was Rs. 1,43,74,047/-, including a principal amount of Rs. 1,31,29,245/- and interest of Rs. 12,44,802/-. The operational creditor supplied paper to the corporate debtor based on several invoices between December 2021 and March 2022. The corporate debtor claimed that the operational creditor failed to supply the complete order of 420 tons, resulting in a shortfall of 262 tons. The corporate debtor then purchased paper from TNPL, incurring losses of Rs. 1,39,34,726/-. The corporate debtor initiated pre-litigation mediation on
…The Demand Notice was…
Pre-litigation mediation…