M/s Yamuna Fertilizer, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate 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/-. The corporate debtor was approached by the operational creditor for supply of chemicals, and invoices were raised, which were duly received and acknowledged. A settlement letter was issued by the corporate debtor, and a cheque was given, which was later dishonored. The Adjudicating Authority proceeded ex parte as the corporate debtor did not appear despite service of notice.
M/s Yamuna Fertilizer, the operational creditor, supplied chemicals to M/s Gopal Ji Garments Private Limited, the corporate debtor, based on verbal orders. Invoices were raised and acknowledged. The corporate debtor made payments through electronic transfer and cheques but failed to fully pay invoice dated 21.01.2019 and subsequent invoices from 22.01.2019 to 17.07.2019, resulting in a default of Rs. 15,57,339.70/-. A statutory demand notice was sent on 31.07.2019. A settlement letter dated 02.08.2019 was issued, and a cheque dated 15.10.2019 for Rs. 15,57,340/- was given, but the corporate debtor requested the operational creditor not to present the cheque. Rs. 2 Lac was transferred in the meantime. The cheque was presented on 15.10.2019 but dishonored on 02.01.2020.
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M/s Gopal Ji Garments…
The corporate…
M/s Yamuna Fertilizer, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate 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/-. The corporate debtor was approached by the operational creditor for supply of chemicals, and invoices were raised, which were duly received and acknowledged. A settlement letter was issued by the corporate debtor, and a cheque was given, which was later dishonored. The Adjudicating Authority proceeded ex parte as the corporate debtor did not appear despite service of notice.
M/s Yamuna Fertilizer, the operational creditor, supplied chemicals to M/s Gopal Ji Garments Private Limited, the corporate debtor, based on verbal orders. Invoices were raised and acknowledged. The corporate debtor made payments through electronic transfer and cheques but failed to fully pay invoice dated 21.01.2019 and subsequent invoices from 22.01.2019 to 17.07.2019, resulting in a default of Rs. 15,57,339.70/-. A statutory demand notice was sent on 31.07.2019. A settlement letter dated 02.08.2019 was issued, and a cheque dated 15.10.2019 for Rs. 15,57,340/- was given, but the corporate debtor requested the operational creditor not to present the cheque. Rs. 2 Lac was transferred in the meantime. The cheque was presented on 15.10.2019 but dishonored on 02.01.2020.
…M/s Gopal Ji Garments…
The corporate…