Neelkanth Trading Company, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sankalpshakti Enterprises Private Limited, the corporate debtor, due to unpaid operational debt amounting to Rs. 1,00,45,600. The operational debt arose from a business arrangement dated 16.04.2022, where Neelkanth Trading Company supplied dairy product 'cream' to Sankalpshakti Enterprises on three occasions in April 2023. Despite repeated requests, the corporate debtor failed to make the payments, leading to the issuance of a demand notice on 22.01.2024.
Neelkanth Trading Company (Operational Creditor) and Sankalpshakti Enterprises Pvt. Ltd. (Corporate Debtor) entered into a business arrangement on 16.04.2022. Under this arrangement, Neelkanth Trading Company supplied dairy product 'cream' to Sankalpshakti Enterprises on three occasions: 15.04.2023, 21.04.2023, and 26.04.2023. Invoices were raised for these supplies, and a total amount of Rs. 1,00,45,600/- became outstanding. Despite numerous requests and reminders, Sankalpshakti Enterprises failed to make the payments. Consequently, Neelkanth Trading Company sent a demand notice in Form-3 dated 22.01.2024 under Section 8 of the Insolvency and Bankruptcy Code to Sankalpshakti Enterprises. In response, Sankalpshakti Enterprises, on 07.02.2024, expressed willingness to
…Sign in to view the parties.
Neelkanth Trading Company and Sankalpshakti…
Neelkanth Trading…
Neelkanth Trading Company, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sankalpshakti Enterprises Private Limited, the corporate debtor, due to unpaid operational debt amounting to Rs. 1,00,45,600. The operational debt arose from a business arrangement dated 16.04.2022, where Neelkanth Trading Company supplied dairy product 'cream' to Sankalpshakti Enterprises on three occasions in April 2023. Despite repeated requests, the corporate debtor failed to make the payments, leading to the issuance of a demand notice on 22.01.2024.
Neelkanth Trading Company (Operational Creditor) and Sankalpshakti Enterprises Pvt. Ltd. (Corporate Debtor) entered into a business arrangement on 16.04.2022. Under this arrangement, Neelkanth Trading Company supplied dairy product 'cream' to Sankalpshakti Enterprises on three occasions: 15.04.2023, 21.04.2023, and 26.04.2023. Invoices were raised for these supplies, and a total amount of Rs. 1,00,45,600/- became outstanding. Despite numerous requests and reminders, Sankalpshakti Enterprises failed to make the payments. Consequently, Neelkanth Trading Company sent a demand notice in Form-3 dated 22.01.2024 under Section 8 of the Insolvency and Bankruptcy Code to Sankalpshakti Enterprises. In response, Sankalpshakti Enterprises, on 07.02.2024, expressed willingness to
…Neelkanth Trading Company and Sankalpshakti…
Neelkanth Trading…