The case involves an application filed by Mr. A.N. Srinivasa Raje Urs, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Shreenidhi Papers Pvt. Ltd., the Corporate Debtor, for defaulting on a payment of Rs. 1,77,58,868. The Operational Creditor claimed to have supplied waste paper products to the Corporate Debtor for over four years, raising invoices for the delivered goods. Despite providing quality goods in a timely manner, the Corporate Debtor failed to honor the invoices. The Corporate Debtor also admitted its debt obligation in the confirmation of accounts for the period 01.04.2019 to 26.12.2019. The Operational Creditor issued a demand notice
…Mr. A.N. Srinivasa Raje Urs, operating as M/s. Sri Krishna Enterprises, is the Operational Creditor and filed a petition against M/s. Shreenidhi Papers Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor supplied waste paper products to the Corporate Debtor for over four years and raised invoices for the goods delivered. The Corporate Debtor defaulted on a payment of Rs. 1,77,58,868. The Corporate Debtor acknowledged its debt in confirmation of accounts for the period 01.04.2019 to 26.12.2019, admitting a liability of Rs. 1,77,58,739. The Operational Creditor issued a demand notice on 24.11.2020, which was received by the Corporate Debtor on 05.12.2020, but no reply or payments were made. The
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M/s. Shreenidhi Papers…
The Corporate Debtor…
The case involves an application filed by Mr. A.N. Srinivasa Raje Urs, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Shreenidhi Papers Pvt. Ltd., the Corporate Debtor, for defaulting on a payment of Rs. 1,77,58,868. The Operational Creditor claimed to have supplied waste paper products to the Corporate Debtor for over four years, raising invoices for the delivered goods. Despite providing quality goods in a timely manner, the Corporate Debtor failed to honor the invoices. The Corporate Debtor also admitted its debt obligation in the confirmation of accounts for the period 01.04.2019 to 26.12.2019. The Operational Creditor issued a demand notice
…Mr. A.N. Srinivasa Raje Urs, operating as M/s. Sri Krishna Enterprises, is the Operational Creditor and filed a petition against M/s. Shreenidhi Papers Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor supplied waste paper products to the Corporate Debtor for over four years and raised invoices for the goods delivered. The Corporate Debtor defaulted on a payment of Rs. 1,77,58,868. The Corporate Debtor acknowledged its debt in confirmation of accounts for the period 01.04.2019 to 26.12.2019, admitting a liability of Rs. 1,77,58,739. The Operational Creditor issued a demand notice on 24.11.2020, which was received by the Corporate Debtor on 05.12.2020, but no reply or payments were made. The
…M/s. Shreenidhi Papers…
The Corporate Debtor…