The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Royal Pharma Packers, Partnership Firm (Operational Creditor), against M/s Macin Remedies India Limited (Corporate Debtor), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor claims a default of Rs.4,62,027/- for supplying multi-color printing foil paper for pharmaceutical packaging. A demand notice was served on 23.12.2019, but the corporate debtor neither responded nor made any payment. The corporate debtor initially did not appear, leading to an ex-parte order. Subsequently, the corporate debtor filed an application (MA (IBC) No.2/2023) to set aside the ex-parte order, claiming non-receipt of notice.
M/s Royal Pharma Packers, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Macin Remedies India Limited, a corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied multi-color printing foil paper for pharmaceutical packaging to the corporate debtor. The corporate debtor allegedly defaulted on payments amounting to Rs.4,62,027/-, including interest at 18% per annum. A demand notice was served on the corporate debtor on 23.12.2019, demanding the outstanding amount. The corporate debtor failed to respond to the demand notice or make any payments. The operational creditor filed Form 5, stating the amount in default and the period of default,
…Sign in to view the parties.
The operational creditor, M/s Royal Pharma…
The period of default…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Royal Pharma Packers, Partnership Firm (Operational Creditor), against M/s Macin Remedies India Limited (Corporate Debtor), seeking initiation of Corporate Insolvency Resolution Process (CIRP). The operational creditor claims a default of Rs.4,62,027/- for supplying multi-color printing foil paper for pharmaceutical packaging. A demand notice was served on 23.12.2019, but the corporate debtor neither responded nor made any payment. The corporate debtor initially did not appear, leading to an ex-parte order. Subsequently, the corporate debtor filed an application (MA (IBC) No.2/2023) to set aside the ex-parte order, claiming non-receipt of notice.
M/s Royal Pharma Packers, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Macin Remedies India Limited, a corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor supplied multi-color printing foil paper for pharmaceutical packaging to the corporate debtor. The corporate debtor allegedly defaulted on payments amounting to Rs.4,62,027/-, including interest at 18% per annum. A demand notice was served on the corporate debtor on 23.12.2019, demanding the outstanding amount. The corporate debtor failed to respond to the demand notice or make any payments. The operational creditor filed Form 5, stating the amount in default and the period of default,
…The operational creditor, M/s Royal Pharma…
The period of default…