The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Kodak India Private Limited (Operational Creditor) against M.S. Graphics Pvt. Ltd. (Corporate Debtor), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied between June 2018 and August 2021. Several payment arrangements were made, including a 'Payment Plan Agreement', but disputes arose regarding the adjustment of payments against current and past dues. The Corporate Debtor denied the existence of debt and alleged misrepresentation by the Operational Creditor.
Kodak India Private Limited (Operational Creditor) supplied goods to M.S. Graphics Pvt. Ltd. (Corporate Debtor) based on purchase orders placed between June 27, 2018, and October 1, 2021. The Operational Creditor raised invoices for the sale and supply of goods, which were accepted by the Corporate Debtor without protest. Payments were made by the Corporate Debtor on an ad-hoc basis and according to a 'Payment Plan Agreement' dated February 19, 2019. From September 25, 2020, to August 9, 2021, the Operational Creditor raised invoices amounting to Rs. 6,26,93,986. The Operational Creditor received Rs. 11,20,229 as part payment. The Operational Creditor claimed that Rs. 6,31,49,363 was outstanding. The Corporate Debtor issued several cheques from August 2021 to September
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Work/Purchase orders were placed by the…
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The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Kodak India Private Limited (Operational Creditor) against M.S. Graphics Pvt. Ltd. (Corporate Debtor), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for goods supplied between June 2018 and August 2021. Several payment arrangements were made, including a 'Payment Plan Agreement', but disputes arose regarding the adjustment of payments against current and past dues. The Corporate Debtor denied the existence of debt and alleged misrepresentation by the Operational Creditor.
Kodak India Private Limited (Operational Creditor) supplied goods to M.S. Graphics Pvt. Ltd. (Corporate Debtor) based on purchase orders placed between June 27, 2018, and October 1, 2021. The Operational Creditor raised invoices for the sale and supply of goods, which were accepted by the Corporate Debtor without protest. Payments were made by the Corporate Debtor on an ad-hoc basis and according to a 'Payment Plan Agreement' dated February 19, 2019. From September 25, 2020, to August 9, 2021, the Operational Creditor raised invoices amounting to Rs. 6,26,93,986. The Operational Creditor received Rs. 11,20,229 as part payment. The Operational Creditor claimed that Rs. 6,31,49,363 was outstanding. The Corporate Debtor issued several cheques from August 2021 to September
…Work/Purchase orders were placed by the…
A 'Payment Plan Agreement' was executed between…