The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Adonis Mobitrade Private Limited, the Operational Creditor, against Shop CJ Network Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor is a company incorporated on 01.09.2008 under the Companies Act, 1956. The Operational Creditor claims that the Corporate Debtor failed to make payment of Rs.91,89,867/-. The Corporate Debtor contends that there are transactions between the Sister Concern and the Parent Company, but there is no concern about the transaction between Sister Concern with the liability of the Corporate Debtor.
Adonis Mobitrade Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shop CJ Network Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 01.09.2008. The Operational Creditor claimed that the Corporate Debtor failed to pay Rs.91,89,867/-, with the date of default being 20.10.2017. The Corporate Debtor issued purchase orders to the Operational Creditor for mobile phones between 11.08.2017 and 13.09.2017. The Operational Creditor raised invoices between 14.08.2017 and 26.09.2017. The Corporate Debtor started transactions with the Operational Creditor's sister concern from August 2016. The Corporate Debtor found
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Shop CJ Network Private…
Corporate Debtor issued purchase orders to…
The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Adonis Mobitrade Private Limited, the Operational Creditor, against Shop CJ Network Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor is a company incorporated on 01.09.2008 under the Companies Act, 1956. The Operational Creditor claims that the Corporate Debtor failed to make payment of Rs.91,89,867/-. The Corporate Debtor contends that there are transactions between the Sister Concern and the Parent Company, but there is no concern about the transaction between Sister Concern with the liability of the Corporate Debtor.
Adonis Mobitrade Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shop CJ Network Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 01.09.2008. The Operational Creditor claimed that the Corporate Debtor failed to pay Rs.91,89,867/-, with the date of default being 20.10.2017. The Corporate Debtor issued purchase orders to the Operational Creditor for mobile phones between 11.08.2017 and 13.09.2017. The Operational Creditor raised invoices between 14.08.2017 and 26.09.2017. The Corporate Debtor started transactions with the Operational Creditor's sister concern from August 2016. The Corporate Debtor found
…Shop CJ Network Private…
Corporate Debtor issued purchase orders to…