The case involves an application (IA No. 359/JPR/2019) filed by the Resolution Professional (RP) of Jadoun International Pvt. Ltd. (Corporate Debtor) under Section 60(5) read with Section 20 of the Insolvency and Bankruptcy Code (IBC). The RP sought directions against Respondent No. 2, Garg Granite Pvt. Ltd., to pay an outstanding amount of Rs. 41,07,291/- due to the Corporate Debtor for freight services. The Financial Creditor, Indus Container Lines Pvt. Ltd., had initiated CIRP against Jadoun International Pvt. Ltd. The RP, after scrutinizing the Corporate Debtor's accounts, found its assets insufficient to cover its liabilities. The Respondent No. 2 disputed the amount, claiming an agreement for adjustment of accounts with related entities and set-off against goods
…Indus Container Lines Pvt. Ltd., the Financial Creditor, initiated CIRP against Jadoun International Pvt. Ltd. (Corporate Debtor) under Section 7 of the IBC. The CIRP was initiated on 2019-01-25, and Mr. Ajit Kumar was appointed as the IRP. The RP filed IA No. 359/JPR/2019 seeking directions against Garg Granite Pvt. Ltd. (Respondent No. 2) to pay Rs. 41,07,291/- for outstanding freight services. The RP's application was based on the Corporate Debtor's books of accounts and ledger, which reflected the outstanding amount. The Respondent No. 2 disputed the amount, claiming an agreement for adjustment of accounts with related entities and set-off against goods supplied to the Corporate Debtor's proprietorship firm, Radha Rani Export Pvt Ltd. The invoices related to the
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The case involves an application (IA No. 359/JPR/2019) filed by the Resolution Professional (RP) of Jadoun International Pvt. Ltd. (Corporate Debtor) under Section 60(5) read with Section 20 of the Insolvency and Bankruptcy Code (IBC). The RP sought directions against Respondent No. 2, Garg Granite Pvt. Ltd., to pay an outstanding amount of Rs. 41,07,291/- due to the Corporate Debtor for freight services. The Financial Creditor, Indus Container Lines Pvt. Ltd., had initiated CIRP against Jadoun International Pvt. Ltd. The RP, after scrutinizing the Corporate Debtor's accounts, found its assets insufficient to cover its liabilities. The Respondent No. 2 disputed the amount, claiming an agreement for adjustment of accounts with related entities and set-off against goods
…Indus Container Lines Pvt. Ltd., the Financial Creditor, initiated CIRP against Jadoun International Pvt. Ltd. (Corporate Debtor) under Section 7 of the IBC. The CIRP was initiated on 2019-01-25, and Mr. Ajit Kumar was appointed as the IRP. The RP filed IA No. 359/JPR/2019 seeking directions against Garg Granite Pvt. Ltd. (Respondent No. 2) to pay Rs. 41,07,291/- for outstanding freight services. The RP's application was based on the Corporate Debtor's books of accounts and ledger, which reflected the outstanding amount. The Respondent No. 2 disputed the amount, claiming an agreement for adjustment of accounts with related entities and set-off against goods supplied to the Corporate Debtor's proprietorship firm, Radha Rani Export Pvt Ltd. The invoices related to the
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Authority initiated…