Chemical Suppliers India Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kanodia Technoplast Ltd, alleging default in payment of Rs. 7,84,94,085/-. The application was based on invoices issued between 01.07.2020 and 03.06.2021. Kanodia Technoplast Ltd contended that the application was not maintainable under Section 10A of the IBC, as the default occurred during the period from 25.03.2020 to 24.03.2021, which is excluded under Section 10A.
Chemical Suppliers India Pvt Ltd (Operational Creditor/Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kanodia Technoplast Ltd (Corporate Debtor). The application was based on a default in payment of Rs. 7,84,94,085/-, which included a principal amount of Rs. 6,13,26,586/- and interest of Rs. 1,71,67,229/-. The invoices were issued from 01.07.2020 to 03.06.2021. The Corporate Debtor contended that the application was not maintainable under Section 10A of the IBC, as the amount claimed in Part-IV of the application fell due during the period from 25.03.2020 to 24.03.2021. The Corporate Debtor also submitted that the parties had entered into an amicable
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Chemical Suppliers India Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kanodia Technoplast Ltd, alleging default in payment of Rs. 7,84,94,085/-. The application was based on invoices issued between 01.07.2020 and 03.06.2021. Kanodia Technoplast Ltd contended that the application was not maintainable under Section 10A of the IBC, as the default occurred during the period from 25.03.2020 to 24.03.2021, which is excluded under Section 10A.
Chemical Suppliers India Pvt Ltd (Operational Creditor/Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kanodia Technoplast Ltd (Corporate Debtor). The application was based on a default in payment of Rs. 7,84,94,085/-, which included a principal amount of Rs. 6,13,26,586/- and interest of Rs. 1,71,67,229/-. The invoices were issued from 01.07.2020 to 03.06.2021. The Corporate Debtor contended that the application was not maintainable under Section 10A of the IBC, as the amount claimed in Part-IV of the application fell due during the period from 25.03.2020 to 24.03.2021. The Corporate Debtor also submitted that the parties had entered into an amicable
…Defaults occurring on…
Invoices issued from…