The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Radico Khaitan Limited (Operational Creditor) against Concept Biosciences India Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of Pharma pet bottles. The Corporate Debtor contested the application, alleging pre-existing disputes regarding the quality of the supplied goods and questioning the authority of the person who filed the application on behalf of the Operational Creditor.
Radico Khaitan Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Concept Biosciences India Private Limited, the Corporate Debtor, for defaulting on payments for the supply of Pharma pet bottles. The Corporate Debtor had placed purchase orders between August 2019 and October 2019. The Operational Creditor raised invoices aggregating to Rs. 67,71,412. The Operational Creditor issued a demand notice on 28th December 2019, which was received by the Corporate Debtor on 29th December 2019. The Corporate Debtor claimed that there were quality issues with the bottles supplied and that they had informed the Operational Creditor about these issues via email dated 17th November 2019, prior to the issuance
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Corporate Debtor placed purchase orders for…
Operational Creditor…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Radico Khaitan Limited (Operational Creditor) against Concept Biosciences India Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for the supply of Pharma pet bottles. The Corporate Debtor contested the application, alleging pre-existing disputes regarding the quality of the supplied goods and questioning the authority of the person who filed the application on behalf of the Operational Creditor.
Radico Khaitan Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Concept Biosciences India Private Limited, the Corporate Debtor, for defaulting on payments for the supply of Pharma pet bottles. The Corporate Debtor had placed purchase orders between August 2019 and October 2019. The Operational Creditor raised invoices aggregating to Rs. 67,71,412. The Operational Creditor issued a demand notice on 28th December 2019, which was received by the Corporate Debtor on 29th December 2019. The Corporate Debtor claimed that there were quality issues with the bottles supplied and that they had informed the Operational Creditor about these issues via email dated 17th November 2019, prior to the issuance
…Corporate Debtor placed purchase orders for…
Operational Creditor…