The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Radhey Shyam Sharma, the Operational Creditor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Gokul Polymers Private Limited, the Corporate Debtor. The Operational Creditor claimed to have supplied raw materials to the Corporate Debtor, who failed to make payments for the same. The Corporate Debtor contested the application, asserting the existence of a pre-existing dispute regarding the quality of the supplied goods.
Radhey Shyam Sharma, the Operational Creditor, filed an application under Section 9 of the IBC to initiate CIRP against Gokul Polymers Private Limited, the Corporate Debtor, for non-payment of dues related to the supply of raw materials. The Operational Creditor claimed that they supplied raw materials worth Rs. 25,53,718/- to the Corporate Debtor between 06.03.2017 and 30.11.2017. The Corporate Debtor made a part payment of Rs. 9,50,000/-. The Operational Creditor issued a demand notice dated 20.09.2019 under Section 8 of the IBC. The Corporate Debtor replied to the demand notice on 03.10.2019. The Corporate Debtor raised a contention of a pre-existing dispute regarding the quality of the goods supplied, supported by an email dated 30.04.2018, where they rejected the
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Operational Creditor…
Operational Creditor…
The case involves an application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Radhey Shyam Sharma, the Operational Creditor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Gokul Polymers Private Limited, the Corporate Debtor. The Operational Creditor claimed to have supplied raw materials to the Corporate Debtor, who failed to make payments for the same. The Corporate Debtor contested the application, asserting the existence of a pre-existing dispute regarding the quality of the supplied goods.
Radhey Shyam Sharma, the Operational Creditor, filed an application under Section 9 of the IBC to initiate CIRP against Gokul Polymers Private Limited, the Corporate Debtor, for non-payment of dues related to the supply of raw materials. The Operational Creditor claimed that they supplied raw materials worth Rs. 25,53,718/- to the Corporate Debtor between 06.03.2017 and 30.11.2017. The Corporate Debtor made a part payment of Rs. 9,50,000/-. The Operational Creditor issued a demand notice dated 20.09.2019 under Section 8 of the IBC. The Corporate Debtor replied to the demand notice on 03.10.2019. The Corporate Debtor raised a contention of a pre-existing dispute regarding the quality of the goods supplied, supported by an email dated 30.04.2018, where they rejected the
…Operational Creditor…
Operational Creditor…