Sahajanand Marketing Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Kalinga Commercial Corporation Limited, claiming a default of ₹1,96,96,948/-. The applicant, an operational creditor, alleged continuous supply of services to the corporate debtor from August 31, 2015, to January 31, 2018, with outstanding invoices. A demand notice was sent on 01.12.2020.
Sahajanand Marketing Private Limited (SMPL) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kalinga Commercial Corporation Limited (KCCL) for initiating Corporate Insolvency Resolution Process (CIRP) due to an alleged operational debt of ₹1,96,96,948/-. SMPL claimed to have provided continuous services to KCCL from August 31, 2015, to January 31, 2018, issuing invoices totaling ₹7,11,05,687/-, while receiving ₹5,32,02,098/-. A demand notice was sent on 01.12.2020. KCCL contested the claim, alleging pre-existing disputes, inflated bills, and inconsistencies in SMPL's ledger accounts. KCCL claimed that SMPL owed them ₹78,75,157 as per an agreement dated January 27, 2018. KCCL also argued that SMPL's claim of transporting
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Sahajanand Marketing Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Kalinga Commercial Corporation Limited, claiming a default of ₹1,96,96,948/-. The applicant, an operational creditor, alleged continuous supply of services to the corporate debtor from August 31, 2015, to January 31, 2018, with outstanding invoices. A demand notice was sent on 01.12.2020.
Sahajanand Marketing Private Limited (SMPL) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kalinga Commercial Corporation Limited (KCCL) for initiating Corporate Insolvency Resolution Process (CIRP) due to an alleged operational debt of ₹1,96,96,948/-. SMPL claimed to have provided continuous services to KCCL from August 31, 2015, to January 31, 2018, issuing invoices totaling ₹7,11,05,687/-, while receiving ₹5,32,02,098/-. A demand notice was sent on 01.12.2020. KCCL contested the claim, alleging pre-existing disputes, inflated bills, and inconsistencies in SMPL's ledger accounts. KCCL claimed that SMPL owed them ₹78,75,157 as per an agreement dated January 27, 2018. KCCL also argued that SMPL's claim of transporting
…Demand Notice was sent…
Time was granted to the…