The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by IC Point, an operational creditor, against DSK Milkotronics Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied industrial electronics components to the corporate debtor between September 2014 and August 2016. The corporate debtor failed to pay the outstanding amount for these supplies.
IC Point, an operational creditor, filed a petition against DSK Milkotronics Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. DSK Milkotronics approached IC Point in September 2014 for the supply of industrial electronics components. IC Point supplied goods and raised invoices between September 2014 and August 2016. The total outstanding debt was Rs. 18,50,758/-, exclusive of interest. The last payment was made on 25.08.2016. IC Point sent demand notices, but they were returned undelivered. The Tribunal initially dismissed the petition but restored it later. The invoices raised were from 15.09.2014 to 25.08.2016. The debt due and in default even in relation to invoices falling due in April, 2016
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DSK Milkotronics Private Limited approached…
IC Point supplied goods…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by IC Point, an operational creditor, against DSK Milkotronics Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied industrial electronics components to the corporate debtor between September 2014 and August 2016. The corporate debtor failed to pay the outstanding amount for these supplies.
IC Point, an operational creditor, filed a petition against DSK Milkotronics Private Limited, a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. DSK Milkotronics approached IC Point in September 2014 for the supply of industrial electronics components. IC Point supplied goods and raised invoices between September 2014 and August 2016. The total outstanding debt was Rs. 18,50,758/-, exclusive of interest. The last payment was made on 25.08.2016. IC Point sent demand notices, but they were returned undelivered. The Tribunal initially dismissed the petition but restored it later. The invoices raised were from 15.09.2014 to 25.08.2016. The debt due and in default even in relation to invoices falling due in April, 2016
…DSK Milkotronics Private Limited approached…
IC Point supplied goods…