Farukhi Glass Industries, an operational creditor, filed a Company Petition (IB) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Boutique Spirits Brands Pvt. Ltd., the corporate debtor, due to unpaid dues for the supply of empty glass bottles. The operational creditor claimed that the corporate debtor defaulted on payments for invoices raised between December 2021 and February 2023. The corporate debtor repeatedly requested urgent deliveries of glass products, assuring that the outstanding dues would be settled. The operational creditor issued demand notices seeking payment, but no payments were made. The application was filed before the NCLT on 11.09.2024.
Farukhi Glass Industries (Operational Creditor) supplied glass bottles to Boutique Spirits Brands Pvt. Ltd. (Corporate Debtor) between December 2021 and February 2023. The Corporate Debtor defaulted on payments, with outstanding amounts for supplies at Ranchi (Rs. 17,85,787/-), Odisha (Rs. 1,49,77,147/-), and Punjab (Rs. 16,08,235/-). The Corporate Debtor issued a security cheque dated 07.01.2023 for Rs. 50,00,000/-, which was dishonored on 05.04.2023 due to insufficient funds. The Operational Creditor issued demand notices on 15.04.2024 and 17.08.2024, but received no response. The Corporate Debtor failed to appear before the NCLT despite service of notice. The Operational Creditor is registered under the Micro, Small and Medium Enterprises Development Act, 2006
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Between December 2021 and February 2023, the…
The Corporate Debtor issued a security cheque…
Farukhi Glass Industries, an operational creditor, filed a Company Petition (IB) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Boutique Spirits Brands Pvt. Ltd., the corporate debtor, due to unpaid dues for the supply of empty glass bottles. The operational creditor claimed that the corporate debtor defaulted on payments for invoices raised between December 2021 and February 2023. The corporate debtor repeatedly requested urgent deliveries of glass products, assuring that the outstanding dues would be settled. The operational creditor issued demand notices seeking payment, but no payments were made. The application was filed before the NCLT on 11.09.2024.
Farukhi Glass Industries (Operational Creditor) supplied glass bottles to Boutique Spirits Brands Pvt. Ltd. (Corporate Debtor) between December 2021 and February 2023. The Corporate Debtor defaulted on payments, with outstanding amounts for supplies at Ranchi (Rs. 17,85,787/-), Odisha (Rs. 1,49,77,147/-), and Punjab (Rs. 16,08,235/-). The Corporate Debtor issued a security cheque dated 07.01.2023 for Rs. 50,00,000/-, which was dishonored on 05.04.2023 due to insufficient funds. The Operational Creditor issued demand notices on 15.04.2024 and 17.08.2024, but received no response. The Corporate Debtor failed to appear before the NCLT despite service of notice. The Operational Creditor is registered under the Micro, Small and Medium Enterprises Development Act, 2006
…Between December 2021 and February 2023, the…
The Corporate Debtor issued a security cheque…