The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Holzwood Industries Private Limited (Operational Creditor) against Bohra Fashions Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to an outstanding operational debt of Rs. 1,14,34,390.28 for the supply of fabrics by the operational creditor to the corporate debtor during the period from 01.04.2021 to 30.11.2021. The operational creditor issued a demand notice on 01.12.2021, which was duly delivered on 05.03.2022, but the corporate debtor neither replied to the notice nor made any payment.
Holzwood Industries Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bohra Fashions Private Limited (Corporate Debtor). The application was filed on 27.01.2022. The operational creditor claimed that the corporate debtor owed them Rs. 1,14,34,390.28 for fabrics supplied between 01.04.2021 and 30.11.2021. A demand notice was issued on 01.12.2021 and delivered on 05.03.2022, but the corporate debtor did not respond or make any payments. The corporate debtor acknowledged the debt in an affidavit, citing financial difficulties due to COVID-19 and business crisis. The operational creditor submitted ledger accounts, invoices, and bank statements as evidence of the debt. The NCLT found the
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The period during which the operational creditor…
The period during which the operational creditor…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Holzwood Industries Private Limited (Operational Creditor) against Bohra Fashions Private Limited (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to an outstanding operational debt of Rs. 1,14,34,390.28 for the supply of fabrics by the operational creditor to the corporate debtor during the period from 01.04.2021 to 30.11.2021. The operational creditor issued a demand notice on 01.12.2021, which was duly delivered on 05.03.2022, but the corporate debtor neither replied to the notice nor made any payment.
Holzwood Industries Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bohra Fashions Private Limited (Corporate Debtor). The application was filed on 27.01.2022. The operational creditor claimed that the corporate debtor owed them Rs. 1,14,34,390.28 for fabrics supplied between 01.04.2021 and 30.11.2021. A demand notice was issued on 01.12.2021 and delivered on 05.03.2022, but the corporate debtor did not respond or make any payments. The corporate debtor acknowledged the debt in an affidavit, citing financial difficulties due to COVID-19 and business crisis. The operational creditor submitted ledger accounts, invoices, and bank statements as evidence of the debt. The NCLT found the
…The period during which the operational creditor…
The period during which the operational creditor…