The case involves a Company Petition (IB)-286(MB)/2024 filed by Deepak Kalananad Jha (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Dhruv Wellness Limited (Corporate Debtor). The petition concerns a default in repayment of an outstanding debt of Rs. 4,08,81,916/- as of 28.03.2024. The Operational Creditor supplied products to the Corporate Debtor based on a purchase order, but the Corporate Debtor failed to remit full payment despite accepting the delivered products and invoices.
The Operational Creditor, Deepak Kalananad Jha, a sole proprietor dealing in cosmetics and general items, supplied products to the Corporate Debtor, Dhruv Wellness Limited, a listed company, based on a purchase order dated 15.03.2019. The total value of the supplied products, evidenced by 36 invoices and delivery challans, amounted to Rs. 5,81,22,064/-. However, the Corporate Debtor only remitted Rs. 1,72,40,148/-. The Operational Creditor issued a letter dated 31.05.2019, discontinuing further supply due to non-payment. The Corporate Debtor made partial payments totaling Rs. 3,67,534/-. The Corporate Debtor consistently confirmed the outstanding balances for the financial years ending 31.03.2020, 31.03.2021, and 31.03.2022. The Operational Creditor issued a demand
…Sign in to view the parties.
Purchase order issued…
Various invoices raised by the Operational…
The case involves a Company Petition (IB)-286(MB)/2024 filed by Deepak Kalananad Jha (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Dhruv Wellness Limited (Corporate Debtor). The petition concerns a default in repayment of an outstanding debt of Rs. 4,08,81,916/- as of 28.03.2024. The Operational Creditor supplied products to the Corporate Debtor based on a purchase order, but the Corporate Debtor failed to remit full payment despite accepting the delivered products and invoices.
The Operational Creditor, Deepak Kalananad Jha, a sole proprietor dealing in cosmetics and general items, supplied products to the Corporate Debtor, Dhruv Wellness Limited, a listed company, based on a purchase order dated 15.03.2019. The total value of the supplied products, evidenced by 36 invoices and delivery challans, amounted to Rs. 5,81,22,064/-. However, the Corporate Debtor only remitted Rs. 1,72,40,148/-. The Operational Creditor issued a letter dated 31.05.2019, discontinuing further supply due to non-payment. The Corporate Debtor made partial payments totaling Rs. 3,67,534/-. The Corporate Debtor consistently confirmed the outstanding balances for the financial years ending 31.03.2020, 31.03.2021, and 31.03.2022. The Operational Creditor issued a demand
…Purchase order issued…
Various invoices raised by the Operational…