Mirah Dekor Private Limited, the Operational Creditor, filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Promozone (India) Private Limited, the Corporate Debtor, alleging default in payment of Rs. 77,36,496/-. The Corporate Debtor allegedly committed default in making payment to the Operational Creditor by invoking the provisions of Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is in the business of supplying goods and had an agreement with Maharashtra State Co-operative Consumer Federation Limited (MSCCFL) for the supply of food grain items. The Corporate Debtor approached the Operational Creditor for the supply of these goods.
Mirah Dekor Private Limited (Operational Creditor) filed a petition against Promozone (India) Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for a default of Rs. 77,36,496/-. The Operational Creditor supplied goods to the Corporate Debtor, who had an agreement with MSCCFL for the supply of food grain items. The Operational Creditor issued a purchase order on 02.05.2012. The Corporate Debtor acknowledged the invoices raised by the Operational Creditor. The Operational Creditor claimed to have supplied materials amounting to Rs. 37,52,70,380.80. The Corporate Debtor cleared most of the dues, except for Rs. 77,36,496/-. The Corporate Debtor sent an email on 29.05.2015 containing the ledger account,
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The Corporate Debtor…
The Corporate Debtor sent an email containing…
Mirah Dekor Private Limited, the Operational Creditor, filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Promozone (India) Private Limited, the Corporate Debtor, alleging default in payment of Rs. 77,36,496/-. The Corporate Debtor allegedly committed default in making payment to the Operational Creditor by invoking the provisions of Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is in the business of supplying goods and had an agreement with Maharashtra State Co-operative Consumer Federation Limited (MSCCFL) for the supply of food grain items. The Corporate Debtor approached the Operational Creditor for the supply of these goods.
Mirah Dekor Private Limited (Operational Creditor) filed a petition against Promozone (India) Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for a default of Rs. 77,36,496/-. The Operational Creditor supplied goods to the Corporate Debtor, who had an agreement with MSCCFL for the supply of food grain items. The Operational Creditor issued a purchase order on 02.05.2012. The Corporate Debtor acknowledged the invoices raised by the Operational Creditor. The Operational Creditor claimed to have supplied materials amounting to Rs. 37,52,70,380.80. The Corporate Debtor cleared most of the dues, except for Rs. 77,36,496/-. The Corporate Debtor sent an email on 29.05.2015 containing the ledger account,
…The Corporate Debtor…
The Corporate Debtor sent an email containing…