M/s Vijay Paints & Chemicals, an 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 Hanson Agro Limited, the corporate debtor. The operational creditor claimed a default of Rs. 2,10,896/- due to non-payment for goods delivered between 24.07.2018 and 26.09.2018. The corporate debtor contested the petition, alleging poor quality of supplied chemicals and pendency of litigation in Commercial Court. The Adjudicating Authority examined the demand notices, the existence of a pre-existing dispute, and the limitation period.
M/s Vijay Paints & Chemicals (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Hanson Agro Limited (Corporate Debtor) for a default of Rs. 2,10,896/-. The debt arose from the supply of Ethyl Acetate by the Operational Creditor to the Corporate Debtor between 24.07.2018 and 26.09.2018. While the Corporate Debtor made some payments, a partial payment of Rs. 30,568/- was received against invoice B89, but no payment was received thereafter. The Operational Creditor issued a demand notice dated 02.03.2019, which was withdrawn, and a fresh demand notice dated 26.03.2019 was issued. The Corporate Debtor replied on 15.04.2019, alleging poor quality of the supplied chemical. The Corporate Debtor also initiated
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M/s Hanson Agro…
The date from which Bill…
M/s Vijay Paints & Chemicals, an 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 Hanson Agro Limited, the corporate debtor. The operational creditor claimed a default of Rs. 2,10,896/- due to non-payment for goods delivered between 24.07.2018 and 26.09.2018. The corporate debtor contested the petition, alleging poor quality of supplied chemicals and pendency of litigation in Commercial Court. The Adjudicating Authority examined the demand notices, the existence of a pre-existing dispute, and the limitation period.
M/s Vijay Paints & Chemicals (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Hanson Agro Limited (Corporate Debtor) for a default of Rs. 2,10,896/-. The debt arose from the supply of Ethyl Acetate by the Operational Creditor to the Corporate Debtor between 24.07.2018 and 26.09.2018. While the Corporate Debtor made some payments, a partial payment of Rs. 30,568/- was received against invoice B89, but no payment was received thereafter. The Operational Creditor issued a demand notice dated 02.03.2019, which was withdrawn, and a fresh demand notice dated 26.03.2019 was issued. The Corporate Debtor replied on 15.04.2019, alleging poor quality of the supplied chemical. The Corporate Debtor also initiated
…M/s Hanson Agro…
The date from which Bill…