S.K. Agarwal & Co, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kejriwal Sugar Agencies Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on delivering sugar for which an advance payment of Rs. 2,27,26,765/- was made. The Corporate Debtor provided consignment details on 08.03.2021 but did not deliver the consignment. Some sugar of a different quality was supplied, and a partial refund was made, leaving an outstanding amount of Rs. 1,65,78,720/-. The Operational Creditor issued a statutory notice of demand under Section 8 of the Code on 01.12.2022, to which the
…S.K. Agarwal & Co (Operational Creditor) engaged Kejriwal Sugar Agencies Private Limited (Corporate Debtor) for the supply of 6380 quintals of sugar. The Operational Creditor made an advance payment of Rs. 2,27,26,765/- between February and March 2021. The Corporate Debtor provided consignment details on 08.03.2021 but failed to deliver the consignment. The Corporate Debtor supplied 733.90 quintals of sugar of a different quality, valued at Rs. 34,93,045/-, delivered on 21.04.2021. The Corporate Debtor refunded Rs. 26,55,000/- to the Operational Creditor via RTGS on 28.07.2021 and 30.07.2021. The Operational Creditor claimed that an outstanding amount of Rs. 1,65,78,720/- remained due as of 31.07.2021. The Operational Creditor issued a statutory notice of demand
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Operational Creditor made an advance payment…
Corporate Debtor…
S.K. Agarwal & Co, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Kejriwal Sugar Agencies Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on delivering sugar for which an advance payment of Rs. 2,27,26,765/- was made. The Corporate Debtor provided consignment details on 08.03.2021 but did not deliver the consignment. Some sugar of a different quality was supplied, and a partial refund was made, leaving an outstanding amount of Rs. 1,65,78,720/-. The Operational Creditor issued a statutory notice of demand under Section 8 of the Code on 01.12.2022, to which the
…S.K. Agarwal & Co (Operational Creditor) engaged Kejriwal Sugar Agencies Private Limited (Corporate Debtor) for the supply of 6380 quintals of sugar. The Operational Creditor made an advance payment of Rs. 2,27,26,765/- between February and March 2021. The Corporate Debtor provided consignment details on 08.03.2021 but failed to deliver the consignment. The Corporate Debtor supplied 733.90 quintals of sugar of a different quality, valued at Rs. 34,93,045/-, delivered on 21.04.2021. The Corporate Debtor refunded Rs. 26,55,000/- to the Operational Creditor via RTGS on 28.07.2021 and 30.07.2021. The Operational Creditor claimed that an outstanding amount of Rs. 1,65,78,720/- remained due as of 31.07.2021. The Operational Creditor issued a statutory notice of demand
…Operational Creditor made an advance payment…
Corporate Debtor…