M/s Yamuna Fertilizer, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Gopal Ji Garments Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in payment of Rs. 15,57,339.70/- for the supply of chemicals. The corporate debtor initially settled the matter by issuing a cheque, but later requested the operational creditor not to present it, promising further time to pay. The cheque was eventually dishonored. The Adjudicating Authority proceeded ex parte as the corporate debtor did not appear despite service of notice.
M/s Yamuna Fertilizer (operational creditor) supplied chemicals to M/s Gopal Ji Garments Private Limited (corporate debtor). The corporate debtor defaulted on payments amounting to Rs. 15,57,339.70/- for invoices issued between 22.01.2019 and 17.07.2019. A demand notice was sent on 31.07.2019. The corporate debtor issued a cheque dated 15.10.2019 for Rs. 15,57,340/- towards full settlement, but later requested the operational creditor not to present it. The corporate debtor transferred Rs. 2 Lac to the operational creditor's account. The cheque was presented and dishonored on 02.01.2020. The operational creditor filed a petition under Section 9 of the IBC on 23.01.2020. The corporate debtor did not appear despite service of notice and was set ex parte. The amount
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M/s Yamuna Fertilizer, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Gopal Ji Garments Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in payment of Rs. 15,57,339.70/- for the supply of chemicals. The corporate debtor initially settled the matter by issuing a cheque, but later requested the operational creditor not to present it, promising further time to pay. The cheque was eventually dishonored. The Adjudicating Authority proceeded ex parte as the corporate debtor did not appear despite service of notice.
M/s Yamuna Fertilizer (operational creditor) supplied chemicals to M/s Gopal Ji Garments Private Limited (corporate debtor). The corporate debtor defaulted on payments amounting to Rs. 15,57,339.70/- for invoices issued between 22.01.2019 and 17.07.2019. A demand notice was sent on 31.07.2019. The corporate debtor issued a cheque dated 15.10.2019 for Rs. 15,57,340/- towards full settlement, but later requested the operational creditor not to present it. The corporate debtor transferred Rs. 2 Lac to the operational creditor's account. The cheque was presented and dishonored on 02.01.2020. The operational creditor filed a petition under Section 9 of the IBC on 23.01.2020. The corporate debtor did not appear despite service of notice and was set ex parte. The amount
…Corporate d…
Operational creditor…