The case involves an application filed by M/s. SSP Private Limited ('applicant') under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('Code') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (‘CIRP') against M/s. Govind Jee Dairy Milk Private Limited. The applicant claims that the Corporate Debtor committed a default in payment of Rs. 2,48,36,383.56/-, which includes a principal amount of Rs.1,42,00,000/- and interest of Rs.1,06,36,383.56/- calculated from 01.11.2014 to 27.04.2022. The Corporate Debtor argues that the claim is based on unpaid installments as per a settlement agreement and is barred by limitation.
M/s. SSP Private Limited ('applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Govind Jee Dairy Milk Private Limited ('Corporate Debtor'). The Corporate Debtor was incorporated on 20.03.1987. The applicant and the Corporate Debtor entered into a purchase order dated 30.01.2013 for the supply, installation, and commission of a 40 TDP Milk/Baby Food Powder Plant. The applicant raised several invoices between 07.08.2013 and 29.10.2014. The Corporate Debtor issued a Completion Certificate dated 03.03.2015. The Corporate Debtor defaulted in the repayment of the invoices. The applicant sent a letter dated 16.09.2019 stating that Rs.1,62,00,000/- was outstanding. The Corporate Debtor sent a letter dated
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The case involves an application filed by M/s. SSP Private Limited ('applicant') under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('Code') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (‘CIRP') against M/s. Govind Jee Dairy Milk Private Limited. The applicant claims that the Corporate Debtor committed a default in payment of Rs. 2,48,36,383.56/-, which includes a principal amount of Rs.1,42,00,000/- and interest of Rs.1,06,36,383.56/- calculated from 01.11.2014 to 27.04.2022. The Corporate Debtor argues that the claim is based on unpaid installments as per a settlement agreement and is barred by limitation.
M/s. SSP Private Limited ('applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Govind Jee Dairy Milk Private Limited ('Corporate Debtor'). The Corporate Debtor was incorporated on 20.03.1987. The applicant and the Corporate Debtor entered into a purchase order dated 30.01.2013 for the supply, installation, and commission of a 40 TDP Milk/Baby Food Powder Plant. The applicant raised several invoices between 07.08.2013 and 29.10.2014. The Corporate Debtor issued a Completion Certificate dated 03.03.2015. The Corporate Debtor defaulted in the repayment of the invoices. The applicant sent a letter dated 16.09.2019 stating that Rs.1,62,00,000/- was outstanding. The Corporate Debtor sent a letter dated
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