Dadha Pharmacare, the operational creditor, filed a company petition against Nava Healthcare Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The case stems from a Clearing and Forwarding Agreement (C&F Agreement) between the two parties, where Dadha Pharmacare was appointed as the Clearing and Forwarding Agent (CFA) for Nava Healthcare's products. As part of the agreement, Dadha Pharmacare deposited Rs. 1,50,00,000/- as a fully secured and refundable Security Deposit. Dadha Pharmacare alleged that Nava Healthcare defaulted on payments, including Minimum Guarantee Commission (MGC), interest, expenses, and freight charges. Nava Healthcare opposed the admission of the application, citing deficiencies in Dadha
…Dadha Pharmacare, an operational creditor, entered into a Clearing and Forwarding Agreement (C&F Agreement) with Nava Healthcare Pvt. Ltd., the corporate debtor, on 30.01.2020. Dadha Pharmacare was appointed as the Clearing and Forwarding Agent (CFA) for Nava Healthcare's products. As part of the agreement, Dadha Pharmacare deposited Rs. 1,50,00,000/- as a fully secured and refundable Security Deposit, refundable within 14 days of the termination of the contract. The business commenced on 30.09.2020. Dadha Pharmacare was to receive a Minimum Guarantee Commission (MGC) amounting to 2% of net sales, but not less than Rs. 6,50,000/- per month. Dadha Pharmacare also leased a warehouse in Faridabad for Nava Healthcare's operations. Dadha Pharmacare alleged that Nava
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Clearing and Forwarding Agreement (C&F…
Business commenced…
Dadha Pharmacare, the operational creditor, filed a company petition against Nava Healthcare Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The case stems from a Clearing and Forwarding Agreement (C&F Agreement) between the two parties, where Dadha Pharmacare was appointed as the Clearing and Forwarding Agent (CFA) for Nava Healthcare's products. As part of the agreement, Dadha Pharmacare deposited Rs. 1,50,00,000/- as a fully secured and refundable Security Deposit. Dadha Pharmacare alleged that Nava Healthcare defaulted on payments, including Minimum Guarantee Commission (MGC), interest, expenses, and freight charges. Nava Healthcare opposed the admission of the application, citing deficiencies in Dadha
…Dadha Pharmacare, an operational creditor, entered into a Clearing and Forwarding Agreement (C&F Agreement) with Nava Healthcare Pvt. Ltd., the corporate debtor, on 30.01.2020. Dadha Pharmacare was appointed as the Clearing and Forwarding Agent (CFA) for Nava Healthcare's products. As part of the agreement, Dadha Pharmacare deposited Rs. 1,50,00,000/- as a fully secured and refundable Security Deposit, refundable within 14 days of the termination of the contract. The business commenced on 30.09.2020. Dadha Pharmacare was to receive a Minimum Guarantee Commission (MGC) amounting to 2% of net sales, but not less than Rs. 6,50,000/- per month. Dadha Pharmacare also leased a warehouse in Faridabad for Nava Healthcare's operations. Dadha Pharmacare alleged that Nava
…Clearing and Forwarding Agreement (C&F…
Business commenced…