The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s S.K. Yarns, the Operational Creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jindal Agro Mills Pvt. Ltd., the Corporate Debtor. The Operational Creditor and Corporate Debtor were in business dealing with MEIS/DFRC Licenses. The dispute arose from non-payment of Rs. 31,45,805/- against the last invoice dated 13.07.2016. The Corporate Debtor failed to pay despite repeated requests. The Corporate Debtor claimed a pre-existing dispute, citing pending civil suits and criminal complaints.
M/s S.K. Yarns, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jindal Agro Mills Pvt. Ltd., the Corporate Debtor. The dispute arose from the non-payment of Rs. 31,45,805/- against the last invoice dated 13.07.2016. The Operational Creditor claimed a total amount of Rs. 53,83,531/- including interest. The Corporate Debtor argued that there was a pre-existing dispute, supported by evidence of civil suits, criminal complaints, and objections raised at various authorities since 2016-18. The Corporate Debtor also contended that the licenses sold by the Operational Creditor were bogus and invalid, attracting scrutiny from customs authorities. The
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Date of the last invoice…
The Operational…
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s S.K. Yarns, the Operational Creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jindal Agro Mills Pvt. Ltd., the Corporate Debtor. The Operational Creditor and Corporate Debtor were in business dealing with MEIS/DFRC Licenses. The dispute arose from non-payment of Rs. 31,45,805/- against the last invoice dated 13.07.2016. The Corporate Debtor failed to pay despite repeated requests. The Corporate Debtor claimed a pre-existing dispute, citing pending civil suits and criminal complaints.
M/s S.K. Yarns, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jindal Agro Mills Pvt. Ltd., the Corporate Debtor. The dispute arose from the non-payment of Rs. 31,45,805/- against the last invoice dated 13.07.2016. The Operational Creditor claimed a total amount of Rs. 53,83,531/- including interest. The Corporate Debtor argued that there was a pre-existing dispute, supported by evidence of civil suits, criminal complaints, and objections raised at various authorities since 2016-18. The Corporate Debtor also contended that the licenses sold by the Operational Creditor were bogus and invalid, attracting scrutiny from customs authorities. The
…Date of the last invoice…
The Operational…