The case involves a petition filed by M/s Tilak Raj Yash Pal, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s PEE PEE Agro Industries Pvt. Ltd., the Corporate Debtor, for defaulting on a total outstanding amount of Rs. 59,15,154.33, including interest at 18% per annum. The Corporate Debtor is a company incorporated on 22.11.1994. The Operational Creditor claimed to have supplied sunflower seeds and mustard seeds to the Corporate Debtor, with invoices raised for the same. The Corporate Debtor allegedly defaulted on clearing the bills/invoices, leading to the outstanding liability. The Operational Creditor sent a demand notice under section 8(1) of the IBC, but
…M/s Tilak Raj Yash Pal, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s PEE PEE Agro Industries Pvt. Ltd., the Corporate Debtor. The claim was for a total outstanding amount of Rs. 59,15,154.33, including interest at 18% per annum. The Operational Creditor supplied sunflower seeds and mustard seeds to the Corporate Debtor. The invoices stipulated that payments were to be made within 5 days, with interest applicable at 1.5% per month (18% per annum) for delays. The Corporate Debtor allegedly defaulted on payments, leading to the outstanding liability. The last delivery was made on 23/06/2008. The Operational Creditor sent a demand notice dated
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M/s PEE PEE Agro Industries Pvt. Ltd. was…
The last delivery of goods (sunflower…
The case involves a petition filed by M/s Tilak Raj Yash Pal, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s PEE PEE Agro Industries Pvt. Ltd., the Corporate Debtor, for defaulting on a total outstanding amount of Rs. 59,15,154.33, including interest at 18% per annum. The Corporate Debtor is a company incorporated on 22.11.1994. The Operational Creditor claimed to have supplied sunflower seeds and mustard seeds to the Corporate Debtor, with invoices raised for the same. The Corporate Debtor allegedly defaulted on clearing the bills/invoices, leading to the outstanding liability. The Operational Creditor sent a demand notice under section 8(1) of the IBC, but
…M/s Tilak Raj Yash Pal, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s PEE PEE Agro Industries Pvt. Ltd., the Corporate Debtor. The claim was for a total outstanding amount of Rs. 59,15,154.33, including interest at 18% per annum. The Operational Creditor supplied sunflower seeds and mustard seeds to the Corporate Debtor. The invoices stipulated that payments were to be made within 5 days, with interest applicable at 1.5% per month (18% per annum) for delays. The Corporate Debtor allegedly defaulted on payments, leading to the outstanding liability. The last delivery was made on 23/06/2008. The Operational Creditor sent a demand notice dated
…M/s PEE PEE Agro Industries Pvt. Ltd. was…
The last delivery of goods (sunflower…