The case involves an application filed by M/s. Anushri Paper Pack Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. India Denim Limited (Corporate Debtor). The application was filed due to unpaid dues for packaging materials supplied by the Operational Creditor to the Corporate Debtor. The Corporate Debtor argued that the application was barred by limitation and that the goods supplied were of inferior quality. The Operational Creditor contended that part payments made by the Corporate Debtor extended the period of limitation.
M/s. Anushri Paper Pack Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. India Denim Limited (Corporate Debtor). The application was based on unpaid dues for packaging materials supplied by the Operational Creditor. The total debt claimed was Rs. 8,48,127/-, comprising Rs. 3,65,616/- principal and Rs. 4,82,511/- contractual interest. The invoices were raised between July 2013 and November 2013. The Corporate Debtor made a payment of Rs. 40,000/- on 17.05.2016. The Operational Creditor issued a demand notice on 25.01.2019, which was delivered on 30.01.2019. The Corporate Debtor argued that the application was barred by limitation
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The case involves an application filed by M/s. Anushri Paper Pack Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. India Denim Limited (Corporate Debtor). The application was filed due to unpaid dues for packaging materials supplied by the Operational Creditor to the Corporate Debtor. The Corporate Debtor argued that the application was barred by limitation and that the goods supplied were of inferior quality. The Operational Creditor contended that part payments made by the Corporate Debtor extended the period of limitation.
M/s. Anushri Paper Pack Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. India Denim Limited (Corporate Debtor). The application was based on unpaid dues for packaging materials supplied by the Operational Creditor. The total debt claimed was Rs. 8,48,127/-, comprising Rs. 3,65,616/- principal and Rs. 4,82,511/- contractual interest. The invoices were raised between July 2013 and November 2013. The Corporate Debtor made a payment of Rs. 40,000/- on 17.05.2016. The Operational Creditor issued a demand notice on 25.01.2019, which was delivered on 30.01.2019. The Corporate Debtor argued that the application was barred by limitation
…Application filed by…
Demand notice i…