Maple Overseas Trade Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Exotica Ventures Private Limited, the Corporate Debtor, for failing to pay a sum of Rs. 46,68,629.99. This amount included a principal sum of Rs. 27,24,938 and an interest component of Rs. 19,43,691.99 calculated at 18% per annum until November 30, 2017. The Operational Creditor claimed to have supplied Soya DOC to the Corporate Debtor between January 5, 2015, and April 3, 2015. The Corporate Debtor disputed the debt, citing deductions for quality issues and transportation charges. The Corporate Debtor also filed I.A. (IB) No. 1078/KB/2019 seeking sanctions and actions against the directors of the Operational Creditor for
…Maple Overseas Trade Private Limited (Operational Creditor) claimed that Exotica Ventures Private Limited (Corporate Debtor) owed Rs. 46,68,629.99, including principal and interest, for Soya DOC supplied between January 5, 2015, and April 3, 2015. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor disputed the debt, claiming deductions for quality issues and transportation charges. The Corporate Debtor relied on emails and Goods Received Notes (GRNs) to support its claim of quality issues. The Operational Creditor challenged the validity of these documents and the involvement of Mr. Kailash Garg in the email communications. The last payment made by the Corporate Debtor was on July 27, 2015, for
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Operational Creditor supplied Soya DOC to the…
Operational Creditor supplied Soya DOC to the…
Maple Overseas Trade Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Exotica Ventures Private Limited, the Corporate Debtor, for failing to pay a sum of Rs. 46,68,629.99. This amount included a principal sum of Rs. 27,24,938 and an interest component of Rs. 19,43,691.99 calculated at 18% per annum until November 30, 2017. The Operational Creditor claimed to have supplied Soya DOC to the Corporate Debtor between January 5, 2015, and April 3, 2015. The Corporate Debtor disputed the debt, citing deductions for quality issues and transportation charges. The Corporate Debtor also filed I.A. (IB) No. 1078/KB/2019 seeking sanctions and actions against the directors of the Operational Creditor for
…Maple Overseas Trade Private Limited (Operational Creditor) claimed that Exotica Ventures Private Limited (Corporate Debtor) owed Rs. 46,68,629.99, including principal and interest, for Soya DOC supplied between January 5, 2015, and April 3, 2015. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor disputed the debt, claiming deductions for quality issues and transportation charges. The Corporate Debtor relied on emails and Goods Received Notes (GRNs) to support its claim of quality issues. The Operational Creditor challenged the validity of these documents and the involvement of Mr. Kailash Garg in the email communications. The last payment made by the Corporate Debtor was on July 27, 2015, for
…Operational Creditor supplied Soya DOC to the…
Operational Creditor supplied Soya DOC to the…