The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Deshwal Waste Management Private Limited (Operational Creditor) against M/s LG Electronics India Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding amount of Rs. 13,94,35,941.41 as of 02.03.2022, related to e-waste collection and recycling services provided to the Corporate Debtor. A fire incident at the Operational Creditor's plant on 24.06.2021 destroyed relevant records. The Corporate Debtor disputed the debt, citing non-submission of necessary documents as per the agreement and the applicability of Section 10A of the IBC for certain invoices.
M/s Deshwal Waste Management Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s LG Electronics India Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is engaged in the business of collecting, dismantling, and recycling e-waste. An "Agreement for management of Extended Producer Responsibility" was executed between the parties on 05.08.2019. The Operational Creditor claimed an amount of Rs 13,94,35,941.41 due as of 02.03.2022, with the principal amount being Rs. 12,78,34,882.41 and interest calculated till 25.05.2022 at 18% p.a. being Rs. 1,16,01,059. A fire broke out at the Operational Creditor's plant on
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An “Agreement for management of Extended…
A severe fire broke out at the Plant of the…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Deshwal Waste Management Private Limited (Operational Creditor) against M/s LG Electronics India Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding amount of Rs. 13,94,35,941.41 as of 02.03.2022, related to e-waste collection and recycling services provided to the Corporate Debtor. A fire incident at the Operational Creditor's plant on 24.06.2021 destroyed relevant records. The Corporate Debtor disputed the debt, citing non-submission of necessary documents as per the agreement and the applicability of Section 10A of the IBC for certain invoices.
M/s Deshwal Waste Management Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s LG Electronics India Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is engaged in the business of collecting, dismantling, and recycling e-waste. An "Agreement for management of Extended Producer Responsibility" was executed between the parties on 05.08.2019. The Operational Creditor claimed an amount of Rs 13,94,35,941.41 due as of 02.03.2022, with the principal amount being Rs. 12,78,34,882.41 and interest calculated till 25.05.2022 at 18% p.a. being Rs. 1,16,01,059. A fire broke out at the Operational Creditor's plant on
…An “Agreement for management of Extended…
A severe fire broke out at the Plant of the…