HiteshKumar Sureshbhai Gajjar, proprietor of Richrelics Export, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Map Refoils India Limited, claiming to be an Operational Creditor. The applicant claimed that Map Refoils India Limited defaulted on payment of Rs. 1,96,85,265/- for refined palmolein oil supplied by the applicant. The corporate debtor acknowledged the outstanding amount but requested time to make the payment due to financial constraints caused by COVID-19.
HiteshKumar Sureshbhai Gajjar, proprietor of Richrelics Export, is an operational creditor engaged in the business of oil. Map Refoils India Limited is a company limited by shares, incorporated on 09.01.2015, operating in the retail sector offering sunflower, cottonseed, and soyabean oil. The applicant supplied refined palmolein oil to the corporate debtor on 12.04.2021, raising invoices for Rs. 1,96,85,265/-. The corporate debtor acknowledged the outstanding amount in a letter dated 31.08.2021. The applicant sent a reminder letter on 25.08.2021. The corporate debtor requested time to make the payment due to COVID-19 in a letter dated 27.08.2021. The applicant issued a demand notice on 04.10.2021 under Section 8 of the Code. The corporate debtor did not raise any
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Map Refoils India…
Applicant supplied refined palmolein oil to the…
HiteshKumar Sureshbhai Gajjar, proprietor of Richrelics Export, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Map Refoils India Limited, claiming to be an Operational Creditor. The applicant claimed that Map Refoils India Limited defaulted on payment of Rs. 1,96,85,265/- for refined palmolein oil supplied by the applicant. The corporate debtor acknowledged the outstanding amount but requested time to make the payment due to financial constraints caused by COVID-19.
HiteshKumar Sureshbhai Gajjar, proprietor of Richrelics Export, is an operational creditor engaged in the business of oil. Map Refoils India Limited is a company limited by shares, incorporated on 09.01.2015, operating in the retail sector offering sunflower, cottonseed, and soyabean oil. The applicant supplied refined palmolein oil to the corporate debtor on 12.04.2021, raising invoices for Rs. 1,96,85,265/-. The corporate debtor acknowledged the outstanding amount in a letter dated 31.08.2021. The applicant sent a reminder letter on 25.08.2021. The corporate debtor requested time to make the payment due to COVID-19 in a letter dated 27.08.2021. The applicant issued a demand notice on 04.10.2021 under Section 8 of the Code. The corporate debtor did not raise any
…Map Refoils India…
Applicant supplied refined palmolein oil to the…