The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Mayura's Industrial Services, an Operational Creditor, against M/s. Prodeb Brewery Technology Belgium Pvt. Ltd, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed default in payment for goods supplied to the Corporate Debtor. The Corporate Debtor raised objections regarding the maintainability of the application, citing limitation issues and the amount of default being below the threshold. The Adjudicating Authority considered the submissions and documents filed by both parties.
M/s. Mayura's Industrial Services, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Prodeb Brewery Technology Belgium Pvt. Ltd, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid invoices. The Operational Creditor is a partnership firm engaged in the business of supplying and trading various capital goods. The Corporate Debtor allegedly defaulted on payments for invoices raised between November 2016 and October 2017. The total outstanding amount, including interest, was Rs. 1,86,389. The Operational Creditor issued a demand notice on 18.01.2020, which was served to the Corporate Debtor on 20.01.2020. The Corporate Debtor sent a reply notice on
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Operational Creditor issued a demand notice to…
The demand notice was…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Mayura's Industrial Services, an Operational Creditor, against M/s. Prodeb Brewery Technology Belgium Pvt. Ltd, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed default in payment for goods supplied to the Corporate Debtor. The Corporate Debtor raised objections regarding the maintainability of the application, citing limitation issues and the amount of default being below the threshold. The Adjudicating Authority considered the submissions and documents filed by both parties.
M/s. Mayura's Industrial Services, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Prodeb Brewery Technology Belgium Pvt. Ltd, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid invoices. The Operational Creditor is a partnership firm engaged in the business of supplying and trading various capital goods. The Corporate Debtor allegedly defaulted on payments for invoices raised between November 2016 and October 2017. The total outstanding amount, including interest, was Rs. 1,86,389. The Operational Creditor issued a demand notice on 18.01.2020, which was served to the Corporate Debtor on 20.01.2020. The Corporate Debtor sent a reply notice on
…Operational Creditor issued a demand notice to…
The demand notice was…