Duke Fabrics (India) Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sadan Hosiery Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The claim was based on the Corporate Debtor's alleged default in payment of an operational debt amounting to Rs. 1,47,70,999.06/-. The Operational Creditor claimed to have supplied fabrics and dyed fabrics on a job-work basis to the Corporate Debtor between 18.03.2021 and 09.12.2021, with invoices issued with a 30-day credit period. The Corporate Debtor, however, claimed that there was a pre-existing dispute regarding the quality of services and fabric, as well as the quantum of debt. The Corporate Debtor
…Duke Fabrics (India) Limited, the Operational Creditor, filed a petition against Sadan Hosiery Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for default in payment of Rs. 1,47,70,999.06/-. The Operational Creditor claimed to have supplied fabrics and dyed fabrics on job work basis between 18.03.2021 and 09.12.2021, with a 30-day credit period. A demand notice was issued on 07.01.2023. The Corporate Debtor replied on 29.05.2023, stating that the actual amount payable was Rs. 32.50 lacs as on 15.06.2022, and claimed a pre-existing dispute evidenced by WhatsApp chats, emails, and other communications. The Corporate Debtor argued that the Operational Creditor's claim did not include compensation of Rs. 10,99,876/- due
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Operational Creditor supplied fabrics and dyed…
The last invoice was…
Duke Fabrics (India) Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sadan Hosiery Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The claim was based on the Corporate Debtor's alleged default in payment of an operational debt amounting to Rs. 1,47,70,999.06/-. The Operational Creditor claimed to have supplied fabrics and dyed fabrics on a job-work basis to the Corporate Debtor between 18.03.2021 and 09.12.2021, with invoices issued with a 30-day credit period. The Corporate Debtor, however, claimed that there was a pre-existing dispute regarding the quality of services and fabric, as well as the quantum of debt. The Corporate Debtor
…Duke Fabrics (India) Limited, the Operational Creditor, filed a petition against Sadan Hosiery Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for default in payment of Rs. 1,47,70,999.06/-. The Operational Creditor claimed to have supplied fabrics and dyed fabrics on job work basis between 18.03.2021 and 09.12.2021, with a 30-day credit period. A demand notice was issued on 07.01.2023. The Corporate Debtor replied on 29.05.2023, stating that the actual amount payable was Rs. 32.50 lacs as on 15.06.2022, and claimed a pre-existing dispute evidenced by WhatsApp chats, emails, and other communications. The Corporate Debtor argued that the Operational Creditor's claim did not include compensation of Rs. 10,99,876/- due
…Operational Creditor supplied fabrics and dyed…
The last invoice was…