Indo Pack Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M SEA Pharmaceuticals Private Limited, the corporate debtor, due to unpaid operational debt. The corporate debtor is a company incorporated on 01.04.2015. The operational creditor supplied printed packaging materials to the corporate debtor between 07.01.2017 and 28.02.2018. The corporate debtor made partial payments but failed to pay Rs. 15,42,292/- from October 2018 onwards. The operational creditor issued a demand notice on 04.07.2019, which was served on the corporate debtor. The corporate debtor replied on 15.07.2019, claiming sound financial health and disputing the
…Indo Pack Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M SEA Pharmaceuticals Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 01.04.2015. The Operational Creditor supplied printed packaging materials to the Corporate Debtor from 07.01.2017 to 28.02.2018. The Corporate Debtor made partial payments but allegedly failed to pay Rs. 15,42,292/- from October 2018 onwards. The Operational Creditor issued a demand notice on 04.07.2019. The Corporate Debtor replied on 15.07.2019, disputing the debt and claiming a pre-existing dispute regarding the return of print cylinders. The Corporate Debtor claimed the Operational
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M SEA Pharmaceuticals…
Operational Creditor…
Indo Pack Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M SEA Pharmaceuticals Private Limited, the corporate debtor, due to unpaid operational debt. The corporate debtor is a company incorporated on 01.04.2015. The operational creditor supplied printed packaging materials to the corporate debtor between 07.01.2017 and 28.02.2018. The corporate debtor made partial payments but failed to pay Rs. 15,42,292/- from October 2018 onwards. The operational creditor issued a demand notice on 04.07.2019, which was served on the corporate debtor. The corporate debtor replied on 15.07.2019, claiming sound financial health and disputing the
…Indo Pack Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M SEA Pharmaceuticals Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 01.04.2015. The Operational Creditor supplied printed packaging materials to the Corporate Debtor from 07.01.2017 to 28.02.2018. The Corporate Debtor made partial payments but allegedly failed to pay Rs. 15,42,292/- from October 2018 onwards. The Operational Creditor issued a demand notice on 04.07.2019. The Corporate Debtor replied on 15.07.2019, disputing the debt and claiming a pre-existing dispute regarding the return of print cylinders. The Corporate Debtor claimed the Operational
…M SEA Pharmaceuticals…
Operational Creditor…