The petition was filed on 06.05.2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Boss Engineering Company (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Professional Process against M/s. Khoday RCA Industries (Corporate Debtor) on the ground of default for a total outstanding amount of Rs. 6,96,60,088/-. The date of default mentioned in Form 5 is 11.01.2021. The Operational Creditor and Corporate Debtor had a business relationship since 2014-2015. The Operational Creditor supplied Aseptic Pac Paper material to the Corporate Debtor. Six invoices were raised totaling Rs. 2,66,58,305, which became outstanding. The Operational Creditor issued a demand notice on 15.03.2022.
M/s. Boss Engineering Company (Operational Creditor) filed a petition under Section 9 of the IBC against M/s. Khoday RCA Industries (Corporate Debtor) for a default of Rs. 6,96,60,088/-. The date of default was stated as 11.01.2021. The Operational Creditor and Corporate Debtor had a business relationship since 2014-2015, where the Operational Creditor supplied Aseptic Pac Paper material to the Corporate Debtor. Six invoices totaling Rs. 2,66,58,305 became outstanding. A demand notice was issued on 15.03.2022. The Respondent contended that the claims pertain to Khoday RCA Industries, a partnership firm, and the petition is barred by Section 10A of the IBC. The Petitioner argued that Khoday RCA Industries is a division of the Respondent and the account was a running
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The present petition is…
The Operational…
The petition was filed on 06.05.2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Boss Engineering Company (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Professional Process against M/s. Khoday RCA Industries (Corporate Debtor) on the ground of default for a total outstanding amount of Rs. 6,96,60,088/-. The date of default mentioned in Form 5 is 11.01.2021. The Operational Creditor and Corporate Debtor had a business relationship since 2014-2015. The Operational Creditor supplied Aseptic Pac Paper material to the Corporate Debtor. Six invoices were raised totaling Rs. 2,66,58,305, which became outstanding. The Operational Creditor issued a demand notice on 15.03.2022.
M/s. Boss Engineering Company (Operational Creditor) filed a petition under Section 9 of the IBC against M/s. Khoday RCA Industries (Corporate Debtor) for a default of Rs. 6,96,60,088/-. The date of default was stated as 11.01.2021. The Operational Creditor and Corporate Debtor had a business relationship since 2014-2015, where the Operational Creditor supplied Aseptic Pac Paper material to the Corporate Debtor. Six invoices totaling Rs. 2,66,58,305 became outstanding. A demand notice was issued on 15.03.2022. The Respondent contended that the claims pertain to Khoday RCA Industries, a partnership firm, and the petition is barred by Section 10A of the IBC. The Petitioner argued that Khoday RCA Industries is a division of the Respondent and the account was a running
…The present petition is…
The Operational…