M/s Bangur Exim Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Plumbers Choice Plastics Private Limited, the Corporate Debtor, for an alleged default in repayment of an operational debt. The operational creditor is engaged in the business of supplying Polyvinyl Chloride ('PVC') resins. The corporate debtor is engaged in the manufacturing and sale of plumbing hardware products such as PVC pipes and water tanks.
M/s Bangur Exim Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Plumbers Choice Plastics Private Limited (Corporate Debtor). The Operational Creditor supplied Polyvinyl Chloride (PVC) resins to the Corporate Debtor between September 25, 2020, and November 30, 2020, for which invoices totaling Rs. 1,38,55,113/- were raised. Part payments were made, but Rs. 1,30,80,843/- remained outstanding as of March 31, 2021. Interest of Rs. 50,80,099/- accrued until December 31, 2021, and further interest of Rs. 72,06,970/- accrued until May 31, 2023, resulting in a total debt of Rs. 2,02,87,813/-. The Corporate Debtor issued a cheque for
…Sign in to view the parties.
Operational Creditor…
Operational Creditor…
M/s Bangur Exim Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Plumbers Choice Plastics Private Limited, the Corporate Debtor, for an alleged default in repayment of an operational debt. The operational creditor is engaged in the business of supplying Polyvinyl Chloride ('PVC') resins. The corporate debtor is engaged in the manufacturing and sale of plumbing hardware products such as PVC pipes and water tanks.
M/s Bangur Exim Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Plumbers Choice Plastics Private Limited (Corporate Debtor). The Operational Creditor supplied Polyvinyl Chloride (PVC) resins to the Corporate Debtor between September 25, 2020, and November 30, 2020, for which invoices totaling Rs. 1,38,55,113/- were raised. Part payments were made, but Rs. 1,30,80,843/- remained outstanding as of March 31, 2021. Interest of Rs. 50,80,099/- accrued until December 31, 2021, and further interest of Rs. 72,06,970/- accrued until May 31, 2023, resulting in a total debt of Rs. 2,02,87,813/-. The Corporate Debtor issued a cheque for
…Operational Creditor…
Operational Creditor…