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 on 28.03.2024. The Operational Creditor supplied products to the Corporate Debtor based on a purchase order dated 15.03.2019, but the Corporate Debtor failed to make 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 purchase order stipulated the supply of various products at fixed price ranges and unidentified products at a price of 15-20% less than the MRP (excluding GST), with immediate payment upon delivery. The Operational Creditor supplied products worth Rs. 5,81,22,064/-, evidenced by 36 invoices and delivery challans. However, the Corporate Debtor remitted only Rs. 1,72,40,148/-. Despite accepting the delivered products and invoices, the Corporate Debtor failed to remit full payment, breaching the terms of the purchase order. The
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Purchase order issued…
First payment made by…
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 on 28.03.2024. The Operational Creditor supplied products to the Corporate Debtor based on a purchase order dated 15.03.2019, but the Corporate Debtor failed to make 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 purchase order stipulated the supply of various products at fixed price ranges and unidentified products at a price of 15-20% less than the MRP (excluding GST), with immediate payment upon delivery. The Operational Creditor supplied products worth Rs. 5,81,22,064/-, evidenced by 36 invoices and delivery challans. However, the Corporate Debtor remitted only Rs. 1,72,40,148/-. Despite accepting the delivered products and invoices, the Corporate Debtor failed to remit full payment, breaching the terms of the purchase order. The
…Purchase order issued…
First payment made by…