The case involves an application filed by Jayprabhu Industries LLP, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Mudra Denim Pvt. Ltd., the Corporate Debtor, for a resolution of operational debt amounting to Rs. 47,96,754. The Operational Creditor claimed that the Corporate Debtor failed to make payments for the supply of cotton yarn. The Corporate Debtor did not file any reply to the Company Petition.
Jayprabhu Industries LLP, the Operational Creditor, filed a petition against Mudra Denim Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an outstanding operational debt of Rs. 47,96,754. The debt arose from the supply of cotton yarn by the Operational Creditor to the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor for the supply of cotton yarn around August 2017 and had been purchasing cotton yarn since then. Up to March 2018, the Corporate Debtor had carried out transactions of a considerable amount and had not raised any dispute regarding the quantity or quality of the products. The Corporate Debtor failed to make payments for invoices raised from 07.02.2018 to
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The Respondent company approached the…
Up to March 2018, the Respondent had carried…
The case involves an application filed by Jayprabhu Industries LLP, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Mudra Denim Pvt. Ltd., the Corporate Debtor, for a resolution of operational debt amounting to Rs. 47,96,754. The Operational Creditor claimed that the Corporate Debtor failed to make payments for the supply of cotton yarn. The Corporate Debtor did not file any reply to the Company Petition.
Jayprabhu Industries LLP, the Operational Creditor, filed a petition against Mudra Denim Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an outstanding operational debt of Rs. 47,96,754. The debt arose from the supply of cotton yarn by the Operational Creditor to the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor for the supply of cotton yarn around August 2017 and had been purchasing cotton yarn since then. Up to March 2018, the Corporate Debtor had carried out transactions of a considerable amount and had not raised any dispute regarding the quantity or quality of the products. The Corporate Debtor failed to make payments for invoices raised from 07.02.2018 to
…The Respondent company approached the…
Up to March 2018, the Respondent had carried…