The case involves an application filed by Synres B.V. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Emerald Performance Chemical Private Limited (Corporate Debtor). The application was filed due to unpaid invoices for goods supplied by the Operational Creditor to the Corporate Debtor. The Operational Creditor claimed a total amount of Rs. 1,12,73,566/- based on unpaid invoices with default occurring from 14.06.2018.
Synres B.V. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Emerald Performance Chemical Private Limited (Corporate Debtor). The application was based on unpaid invoices for 'acrylic resins' supplied by the Operational Creditor to the Corporate Debtor. The total amount claimed was Rs. 1,12,73,566/-. The Operational Creditor and Corporate Debtor had entered into an agreement on 01.03.2016, where the Corporate Debtor was appointed as a distributor for the Operational Creditor's products in India. The invoices were raised between 16.03.2018 and 21.09.2018, with a 90-day payment term from the issuance date. The Corporate Debtor received the goods
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The Operational Creditor and the Corporate…
The period during which the unpaid invoices…
The case involves an application filed by Synres B.V. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Emerald Performance Chemical Private Limited (Corporate Debtor). The application was filed due to unpaid invoices for goods supplied by the Operational Creditor to the Corporate Debtor. The Operational Creditor claimed a total amount of Rs. 1,12,73,566/- based on unpaid invoices with default occurring from 14.06.2018.
Synres B.V. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Emerald Performance Chemical Private Limited (Corporate Debtor). The application was based on unpaid invoices for 'acrylic resins' supplied by the Operational Creditor to the Corporate Debtor. The total amount claimed was Rs. 1,12,73,566/-. The Operational Creditor and Corporate Debtor had entered into an agreement on 01.03.2016, where the Corporate Debtor was appointed as a distributor for the Operational Creditor's products in India. The invoices were raised between 16.03.2018 and 21.09.2018, with a 90-day payment term from the issuance date. The Corporate Debtor received the goods
…The Operational Creditor and the Corporate…
The period during which the unpaid invoices…