Khaitan Rice Mill Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Radhashyam Industries Private Limited, alleging a default of Rs. 25,77,322/-. The Operational Creditor claimed that the Corporate Debtor failed to pay for rice brans supplied in November and December 2018. The Corporate Debtor acknowledged a smaller outstanding amount of Rs. 6,09,299/- and claimed disputes over the invoice rates and quality of goods.
Khaitan Rice Mill 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 Radhashyam Industries Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 25,77,322/-, inclusive of interest, for the supply of rice brans. The Corporate Debtor argued that the agreed price for the materials was Rs. 9000/- per metric ton or Rs. 7000/- per metric ton, not Rs. 17000/- per metric ton as claimed by the Operational Creditor. The Corporate Debtor admitted to an outstanding amount of Rs. 6,09,299/- after reconciliation. The Operational Creditor sent a statutory notice dated 04 March, 2019, under Section 8 of the Code, which
…Sign in to view the parties.
Operational Creditor supplied Rice Brans to the…
Operational Creditor sent a statutory notice…
Khaitan Rice Mill Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Radhashyam Industries Private Limited, alleging a default of Rs. 25,77,322/-. The Operational Creditor claimed that the Corporate Debtor failed to pay for rice brans supplied in November and December 2018. The Corporate Debtor acknowledged a smaller outstanding amount of Rs. 6,09,299/- and claimed disputes over the invoice rates and quality of goods.
Khaitan Rice Mill 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 Radhashyam Industries Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 25,77,322/-, inclusive of interest, for the supply of rice brans. The Corporate Debtor argued that the agreed price for the materials was Rs. 9000/- per metric ton or Rs. 7000/- per metric ton, not Rs. 17000/- per metric ton as claimed by the Operational Creditor. The Corporate Debtor admitted to an outstanding amount of Rs. 6,09,299/- after reconciliation. The Operational Creditor sent a statutory notice dated 04 March, 2019, under Section 8 of the Code, which
…Operational Creditor supplied Rice Brans to the…
Operational Creditor sent a statutory notice…