M/s Diamond Trading Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s Instamedico and IT Services Pvt. Ltd. (OPC). The petitioner claimed that the corporate debtor defaulted on payments for granite slabs purchased on credit. The operational debt amounted to Rs. 15,09,577/- including principal and interest at 18% P.A.
M/s Diamond Trading Co. (Operational Creditor) filed a petition against M/s Instamedico and IT Services Pvt. Ltd. (OPC) (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP. The Corporate Debtor had issued purchase orders for granite slabs between 2018-04-05 and 2018-04-17. The Operational Creditor supplied the goods on credit, with payment due within 7 days of the invoice date. Three invoices were raised on 2018-04-05, 2018-04-07, and 2018-04-17, totaling Rs. 15,09,577/-. The Corporate Debtor failed to clear the invoices, leading to a demand notice issued on 2018-04-16 under Section 8 of the Code. The Corporate Debtor allegedly avoided service of the demand notice. The Respondent claimed it acted as an intermediary
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Invoice raised by M/s…
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M/s Diamond Trading Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s Instamedico and IT Services Pvt. Ltd. (OPC). The petitioner claimed that the corporate debtor defaulted on payments for granite slabs purchased on credit. The operational debt amounted to Rs. 15,09,577/- including principal and interest at 18% P.A.
M/s Diamond Trading Co. (Operational Creditor) filed a petition against M/s Instamedico and IT Services Pvt. Ltd. (OPC) (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP. The Corporate Debtor had issued purchase orders for granite slabs between 2018-04-05 and 2018-04-17. The Operational Creditor supplied the goods on credit, with payment due within 7 days of the invoice date. Three invoices were raised on 2018-04-05, 2018-04-07, and 2018-04-17, totaling Rs. 15,09,577/-. The Corporate Debtor failed to clear the invoices, leading to a demand notice issued on 2018-04-16 under Section 8 of the Code. The Corporate Debtor allegedly avoided service of the demand notice. The Respondent claimed it acted as an intermediary
…Invoice raised by M/s…
Invoice raised by M/s…