The case involves a Company Petition (CP (IB) No. 149/MB/2022) filed by M/s. Shreeji Pharmachem (Operational Creditor - OC) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Cian Healthcare Limited (Corporate Debtor - CD). The OC claimed a default of Rs. 1,14,50,402/- based on unpaid invoices for goods supplied to the CD. The CD contested the application, citing pre-existing disputes over the quality of goods, part-payments reducing the debt below the threshold, and its solvency.
M/s. Shreeji Pharmachem (OC) filed a petition under Section 9 of the IBC to initiate CIRP against Cian Healthcare Limited (CD) due to an alleged default of Rs. 1,14,50,402/- based on eleven unpaid invoices. The OC supplied raw materials to the CD for manufacturing Albendazole Tablets between 2020 and 2022. The CD made a part-payment of Rs. 2,10,379/- against Invoice No. 58/2021-22 after a demand notice was issued. The OC issued a demand notice on 01.10.2021. The CD, in its reply dated 05.10.2021, sought an extension of time for repayment, citing financial issues caused by COVID-19 and delays in receiving payments from State Governments. The CD issued Post-Dated Cheques (PDCs) that were later dishonored. The CD contended that there was a pre-existing dispute over the
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Company Petition (CP (IB) No. 149/MB/2022) filed…
The OC issued a demand notice to the CD in…
The case involves a Company Petition (CP (IB) No. 149/MB/2022) filed by M/s. Shreeji Pharmachem (Operational Creditor - OC) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Cian Healthcare Limited (Corporate Debtor - CD). The OC claimed a default of Rs. 1,14,50,402/- based on unpaid invoices for goods supplied to the CD. The CD contested the application, citing pre-existing disputes over the quality of goods, part-payments reducing the debt below the threshold, and its solvency.
M/s. Shreeji Pharmachem (OC) filed a petition under Section 9 of the IBC to initiate CIRP against Cian Healthcare Limited (CD) due to an alleged default of Rs. 1,14,50,402/- based on eleven unpaid invoices. The OC supplied raw materials to the CD for manufacturing Albendazole Tablets between 2020 and 2022. The CD made a part-payment of Rs. 2,10,379/- against Invoice No. 58/2021-22 after a demand notice was issued. The OC issued a demand notice on 01.10.2021. The CD, in its reply dated 05.10.2021, sought an extension of time for repayment, citing financial issues caused by COVID-19 and delays in receiving payments from State Governments. The CD issued Post-Dated Cheques (PDCs) that were later dishonored. The CD contended that there was a pre-existing dispute over the
…Company Petition (CP (IB) No. 149/MB/2022) filed…
The OC issued a demand notice to the CD in…