The case involves an application filed by M/s. Jain Metal Traders, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Magppie Global Houseware Pvt. Ltd., the Corporate Debtor, for a debt of Rs. 1,71,72,241. The Operational Creditor and Corporate Debtor had an agreement for the supply of goods since 2012. The Operational Creditor duly supplied the goods, and raised invoices, which were received by the Corporate Debtor without any dispute. The Corporate Debtor failed to make the payment of the amount due.
M/s. Jain Metal Traders (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Magppie Global Houseware Pvt. Ltd. (Corporate Debtor) for a debt of Rs. 1,71,72,241. The Operational Creditor and Corporate Debtor had an agreement for the supply of goods since 2012. The Operational Creditor supplied goods to the Corporate Debtor, and the Corporate Debtor received them without dispute. The Operational Creditor raised various invoices, including Invoice No. 23 dated 11.07.2019, Invoice No. 28 dated 11.07.2019, Invoice No. 33 dated 16.07.2019, Invoice No. 34 dated 16.07.2019, Invoice No. 33 dated 18.02.2021, Invoice No. 34 dated 18.02.2021, and Invoice No. 2 dated 30.09.2021. The Operational
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The Operational Creditor and Corporate Debtor…
Operational Creditor…
The case involves an application filed by M/s. Jain Metal Traders, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Magppie Global Houseware Pvt. Ltd., the Corporate Debtor, for a debt of Rs. 1,71,72,241. The Operational Creditor and Corporate Debtor had an agreement for the supply of goods since 2012. The Operational Creditor duly supplied the goods, and raised invoices, which were received by the Corporate Debtor without any dispute. The Corporate Debtor failed to make the payment of the amount due.
M/s. Jain Metal Traders (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Magppie Global Houseware Pvt. Ltd. (Corporate Debtor) for a debt of Rs. 1,71,72,241. The Operational Creditor and Corporate Debtor had an agreement for the supply of goods since 2012. The Operational Creditor supplied goods to the Corporate Debtor, and the Corporate Debtor received them without dispute. The Operational Creditor raised various invoices, including Invoice No. 23 dated 11.07.2019, Invoice No. 28 dated 11.07.2019, Invoice No. 33 dated 16.07.2019, Invoice No. 34 dated 16.07.2019, Invoice No. 33 dated 18.02.2021, Invoice No. 34 dated 18.02.2021, and Invoice No. 2 dated 30.09.2021. The Operational
…The Operational Creditor and Corporate Debtor…
Operational Creditor…