This case involves an application filed by Raj Petro Specialities Private Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Fiza Polymers Private Limited, the Corporate Debtor. The Operational Creditor claimed a total outstanding amount of Rs. 2,63,04,980/-, including a principal amount of Rs. 2,49,72,016/- and interest of Rs. 13,32,964/-, calculated at 10% p.a. The Corporate Debtor allegedly defaulted on payments for base oils supplied by the Operational Creditor between February 23, 2022, and May 25, 2022. The Corporate Debtor did not respond to the demand notice or appear for the hearing.
Raj Petro Specialities Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Fiza Polymers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 2,63,04,980/-, including principal and interest. The debt arose from the supply of base oils by the Operational Creditor to the Corporate Debtor between February 23, 2022, and May 25, 2022. The Corporate Debtor issued purchase orders for the goods. The Operational Creditor supplied the goods based on the Corporate Debtor's assurance of immediate payment upon delivery. The Corporate Debtor failed to make payments as agreed. A cheque issued by
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Corporate Debtor issued purchase orders dated…
Operational Creditor supplied products to the…
This case involves an application filed by Raj Petro Specialities Private Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Fiza Polymers Private Limited, the Corporate Debtor. The Operational Creditor claimed a total outstanding amount of Rs. 2,63,04,980/-, including a principal amount of Rs. 2,49,72,016/- and interest of Rs. 13,32,964/-, calculated at 10% p.a. The Corporate Debtor allegedly defaulted on payments for base oils supplied by the Operational Creditor between February 23, 2022, and May 25, 2022. The Corporate Debtor did not respond to the demand notice or appear for the hearing.
Raj Petro Specialities Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Fiza Polymers Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed Rs. 2,63,04,980/-, including principal and interest. The debt arose from the supply of base oils by the Operational Creditor to the Corporate Debtor between February 23, 2022, and May 25, 2022. The Corporate Debtor issued purchase orders for the goods. The Operational Creditor supplied the goods based on the Corporate Debtor's assurance of immediate payment upon delivery. The Corporate Debtor failed to make payments as agreed. A cheque issued by
…Corporate Debtor issued purchase orders dated…
Operational Creditor supplied products to the…