The case originates from an application filed by Arysta Life Science India Ltd, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Coromandel Agrico Pvt. Ltd, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied pesticide products. The application was filed due to unpaid invoices despite repeated requests. The Corporate Debtor acknowledged the debt but contested the amount and raised issues regarding the reprocessing of certain materials and alleged losses incurred due to the creditor's actions.
Arysta Life Science India Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Coromandel Agrico Pvt. Ltd, the Corporate Debtor, due to unpaid invoices for supplied pesticide products. The purchase order was dated 2015-09-23. The Operational Creditor sent a demand notice on 2018-04-02, which the Corporate Debtor received and replied to. The Corporate Debtor made partial payments totaling Rs. 42,60,063, and the Operational Creditor issued a credit note of Rs. 8,39,901. The Operational Creditor claimed that Rs. 37,00,349 was still due, and sent a legal notice on 2018-01-31 demanding payment with 18% interest from 2016-01-26. The Corporate Debtor sent a letter on 2018-03-28 with a
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The case originates from an application filed by Arysta Life Science India Ltd, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Coromandel Agrico Pvt. Ltd, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied pesticide products. The application was filed due to unpaid invoices despite repeated requests. The Corporate Debtor acknowledged the debt but contested the amount and raised issues regarding the reprocessing of certain materials and alleged losses incurred due to the creditor's actions.
Arysta Life Science India Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Coromandel Agrico Pvt. Ltd, the Corporate Debtor, due to unpaid invoices for supplied pesticide products. The purchase order was dated 2015-09-23. The Operational Creditor sent a demand notice on 2018-04-02, which the Corporate Debtor received and replied to. The Corporate Debtor made partial payments totaling Rs. 42,60,063, and the Operational Creditor issued a credit note of Rs. 8,39,901. The Operational Creditor claimed that Rs. 37,00,349 was still due, and sent a legal notice on 2018-01-31 demanding payment with 18% interest from 2016-01-26. The Corporate Debtor sent a letter on 2018-03-28 with a
…Date of the purchase…
Operational Creditor…