The case pertains to an application filed by Hindprakash Tradelink Private Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Meghna Shree Petrochem Private Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, leading to outstanding dues.
Hindprakash Tradelink Private Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meghna Shree Petrochem Private Ltd. (Corporate Debtor). The operational creditor supplied N-Butylacrylate and Vinyl Acetate Monomer to the corporate debtor based on an order dated 2019-06-28, and raised invoices dated 2019-06-29 and 2019-07-04. The corporate debtor did not raise any dispute regarding the quality or quantity of the goods. As per the terms, payment was due after a 70-day credit period. The corporate debtor failed to make timely payments and issued two cheques for Rs. 15,40,000/- (dated 2019-09-11) and Rs. 21,56,893 (dated 2019-09-06), which were
…Sign in to view the parties.
Corporate debtor placed…
Applicant raised…
The case pertains to an application filed by Hindprakash Tradelink Private Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Meghna Shree Petrochem Private Ltd. (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on payments for goods supplied, leading to outstanding dues.
Hindprakash Tradelink Private Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Meghna Shree Petrochem Private Ltd. (Corporate Debtor). The operational creditor supplied N-Butylacrylate and Vinyl Acetate Monomer to the corporate debtor based on an order dated 2019-06-28, and raised invoices dated 2019-06-29 and 2019-07-04. The corporate debtor did not raise any dispute regarding the quality or quantity of the goods. As per the terms, payment was due after a 70-day credit period. The corporate debtor failed to make timely payments and issued two cheques for Rs. 15,40,000/- (dated 2019-09-11) and Rs. 21,56,893 (dated 2019-09-06), which were
…Corporate debtor placed…
Applicant raised…