The case originates from a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Rajesh Kumar Parasrampuria, the proprietor of Utex Corporation (Operational Creditor), against P.M. Garments Exports Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to pay a sum of Rs. 17,01,424/-. The date of default was 09 September, 2019. The Operational Creditor had supplied cotton hosiery yarn to the Corporate Debtor and raised invoices, against which part payments were made, leaving the outstanding amount.
Rajesh Kumar Parasrampuria, proprietor of Utex Corporation, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against P.M. Garments Exports Private Limited. Utex Corporation, the Operational Creditor, claimed that P.M. Garments Exports Private Limited, the Corporate Debtor, defaulted on a payment of Rs. 17,01,424/-. The default date was 09 September, 2019. The Operational Creditor supplied cotton hosiery yarn to the Corporate Debtor, raising nine invoices totaling Rs. 47,65,551/-, of which Rs. 30,64,127/- was paid, leaving Rs. 17,01,424/- outstanding. The Operational Creditor issued a statutory notice dated 03 February, 2020, which was delivered on 06 February, 2020. The Corporate Debtor failed to clear the outstanding dues and did
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The Corporate Debtor defaulted on a payment…
The Operational Creditor issued a statutory…
The case originates from a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Rajesh Kumar Parasrampuria, the proprietor of Utex Corporation (Operational Creditor), against P.M. Garments Exports Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to pay a sum of Rs. 17,01,424/-. The date of default was 09 September, 2019. The Operational Creditor had supplied cotton hosiery yarn to the Corporate Debtor and raised invoices, against which part payments were made, leaving the outstanding amount.
Rajesh Kumar Parasrampuria, proprietor of Utex Corporation, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against P.M. Garments Exports Private Limited. Utex Corporation, the Operational Creditor, claimed that P.M. Garments Exports Private Limited, the Corporate Debtor, defaulted on a payment of Rs. 17,01,424/-. The default date was 09 September, 2019. The Operational Creditor supplied cotton hosiery yarn to the Corporate Debtor, raising nine invoices totaling Rs. 47,65,551/-, of which Rs. 30,64,127/- was paid, leaving Rs. 17,01,424/- outstanding. The Operational Creditor issued a statutory notice dated 03 February, 2020, which was delivered on 06 February, 2020. The Corporate Debtor failed to clear the outstanding dues and did
…The Corporate Debtor defaulted on a payment…
The Operational Creditor issued a statutory…