Scitec Iparies Kereskedelmi K., the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Neuvera Wellness Ventures Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor owed them Euro 77,134.5, equivalent to Rs.60,62,771.7, including interest, for goods supplied under a distribution agreement. The Corporate Debtor disputed the claim, alleging defective goods and failure of the Operational Creditor to fulfill marketing obligations. The Corporate Debtor also argued that there was no provision for 18% interest in the invoice or distribution agreement. The Operational Creditor issued demand notices, which the

Scitec Iparies Kereskedelmi K., the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Neuvera Wellness Ventures Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor owed them Euro 77,134.5, equivalent to Rs.60,62,771.7, including interest, for goods supplied under a distribution agreement. The Corporate Debtor disputed the claim, alleging defective goods and failure of the Operational Creditor to fulfill marketing obligations. The Corporate Debtor also argued that there was no provision for 18% interest in the invoice or distribution agreement. The Operational Creditor issued demand notices, which the