The case involves an application filed by Kepuce Footwear Private Limited, the Operational Creditor, against Cosmic Export Solutions (India) Private Limited, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a debt of Rs. 2,20,79,119 with a default date of 07.06.2018. The Corporate Debtor contested the application, citing a settlement agreement, defects in goods supplied, and the Operational Creditor being struck off from the Register of Companies.
Kepuce Footwear Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Cosmic Export Solutions (India) Private Limited (Corporate Debtor) for initiating CIRP due to a default of Rs. 2,20,79,119, with the default date being 07.06.2018. The Operational Creditor is engaged in the production of footwear, and the Corporate Debtor was a regular purchaser since 2016. The Corporate Debtor issued purchase orders and received goods. The Corporate Debtor made a last payment of Rs. 5,00,000 on 07.06.2018. The Operational Creditor sent demand notices on 24.04.2021 and 27.12.2021. The Corporate Debtor claimed defects in the goods supplied and cited a settlement agreement dated 24.02.2018, where the Corporate
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Corporate Debtor was a regular purchaser of…
The Corporate Debtor had purchased the goods…
The case involves an application filed by Kepuce Footwear Private Limited, the Operational Creditor, against Cosmic Export Solutions (India) Private Limited, the Corporate Debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a debt of Rs. 2,20,79,119 with a default date of 07.06.2018. The Corporate Debtor contested the application, citing a settlement agreement, defects in goods supplied, and the Operational Creditor being struck off from the Register of Companies.
Kepuce Footwear Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Cosmic Export Solutions (India) Private Limited (Corporate Debtor) for initiating CIRP due to a default of Rs. 2,20,79,119, with the default date being 07.06.2018. The Operational Creditor is engaged in the production of footwear, and the Corporate Debtor was a regular purchaser since 2016. The Corporate Debtor issued purchase orders and received goods. The Corporate Debtor made a last payment of Rs. 5,00,000 on 07.06.2018. The Operational Creditor sent demand notices on 24.04.2021 and 27.12.2021. The Corporate Debtor claimed defects in the goods supplied and cited a settlement agreement dated 24.02.2018, where the Corporate
…Corporate Debtor was a regular purchaser of…
The Corporate Debtor had purchased the goods…