Dhaga Ghar Threads Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against R-Brands Lifestyle Private Limited. The petitioner alleged that the corporate debtor defaulted on payments amounting to Rs. 6,28,672/- as of 13.12.2019, inclusive of interest at 24% p.a. The petition was filed due to outstanding payments for goods supplied by the petitioner to the corporate debtor.
Dhaga Ghar Threads Private Limited (the Petitioner), an operational creditor, filed a petition against R-Brands Lifestyle Private Limited (the Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Petitioner claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,28,672/- as of 13.12.2019, inclusive of interest at 24% p.a. The total amount of invoices for transactions was Rs. 8,48,910/-, out of which Rs. 4,58,977/- was paid. The unpaid principal was Rs. 3,89,933/-, and total interest was Rs. 2,38,738/- until 31.01.2020. The Petitioner issued a demand notice on 30.11.2019, which was received by the Corporate Debtor on 02.12.2019. The Corporate Debtor failed to make any further payments after
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The Corporate Debtor…
The Petitioner issued a Demand Notice dated…
Dhaga Ghar Threads Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against R-Brands Lifestyle Private Limited. The petitioner alleged that the corporate debtor defaulted on payments amounting to Rs. 6,28,672/- as of 13.12.2019, inclusive of interest at 24% p.a. The petition was filed due to outstanding payments for goods supplied by the petitioner to the corporate debtor.
Dhaga Ghar Threads Private Limited (the Petitioner), an operational creditor, filed a petition against R-Brands Lifestyle Private Limited (the Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP. The Petitioner claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,28,672/- as of 13.12.2019, inclusive of interest at 24% p.a. The total amount of invoices for transactions was Rs. 8,48,910/-, out of which Rs. 4,58,977/- was paid. The unpaid principal was Rs. 3,89,933/-, and total interest was Rs. 2,38,738/- until 31.01.2020. The Petitioner issued a demand notice on 30.11.2019, which was received by the Corporate Debtor on 02.12.2019. The Corporate Debtor failed to make any further payments after
…The Corporate Debtor…
The Petitioner issued a Demand Notice dated…