M/s Greenfields Petrichor Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Pack N Pack Packaging Pvt. Ltd., the corporate debtor, for failing to make a payment of Rs. 4,20,00,001. The operational creditor and corporate debtor had a business relationship since 2017 involving the sale and purchase of paper and its products. The operational creditor supplied materials to the corporate debtor and raised invoices between 23.10.2017 and 20.09.2019. The corporate debtor made payments from time to time, and the operational creditor did not object to delayed payments. The corporate debtor stopped repaying dues from
…M/s Greenfields Petrichor Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Pack N Pack Packaging Pvt. Ltd. (Corporate Debtor) for non-payment of Rs. 4,20,00,001. The Operational Creditor and Corporate Debtor had a business relationship since 2017, involving the sale and purchase of paper and its products, with the Operational Creditor supplying materials and raising invoices between 23.10.2017 and 20.09.2019. The Corporate Debtor made payments, but delays were not objected to. From September 2019, the Corporate Debtor stopped repaying dues. A demand notice under Section 8 of the IBC was issued on 21.09.2019. The
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Operational Creditor and Corporate Debtor…
Operational Creditor supplied materials to…
M/s Greenfields Petrichor Private Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Pack N Pack Packaging Pvt. Ltd., the corporate debtor, for failing to make a payment of Rs. 4,20,00,001. The operational creditor and corporate debtor had a business relationship since 2017 involving the sale and purchase of paper and its products. The operational creditor supplied materials to the corporate debtor and raised invoices between 23.10.2017 and 20.09.2019. The corporate debtor made payments from time to time, and the operational creditor did not object to delayed payments. The corporate debtor stopped repaying dues from
…M/s Greenfields Petrichor Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Pack N Pack Packaging Pvt. Ltd. (Corporate Debtor) for non-payment of Rs. 4,20,00,001. The Operational Creditor and Corporate Debtor had a business relationship since 2017, involving the sale and purchase of paper and its products, with the Operational Creditor supplying materials and raising invoices between 23.10.2017 and 20.09.2019. The Corporate Debtor made payments, but delays were not objected to. From September 2019, the Corporate Debtor stopped repaying dues. A demand notice under Section 8 of the IBC was issued on 21.09.2019. The
…Operational Creditor and Corporate Debtor…
Operational Creditor supplied materials to…