The case involves a Company Petition filed by Zhejiang Medicines & Health Products Import & Export Co. Ltd. (Operational Creditor) against Sonal Plasrub Industries Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleges that the Corporate Debtor defaulted in making payment for goods supplied.
Zhejiang Medicines & Health Products Import & Export Co. Ltd. (Operational Creditor) filed a petition against Sonal Plasrub Industries Private Limited (Corporate Debtor) for defaulting on payments. The Operational Creditor supplied 2-Chloro Phenyl acetic acid and succinic acid to the Corporate Debtor, raising three invoices. The Corporate Debtor claimed the goods were of substandard quality and provided evidence of rejection letters and chemical analysis reports dating back to October and November 2015. The Operational Creditor issued demand notices, and the Corporate Debtor replied, denying liability due to quality issues. The Operational Creditor argued that the quality issue was raised belatedly. The Corporate Debtor filed a reply stating the petition was
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The case involves a Company Petition filed by Zhejiang Medicines & Health Products Import & Export Co. Ltd. (Operational Creditor) against Sonal Plasrub Industries Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor alleges that the Corporate Debtor defaulted in making payment for goods supplied.
Zhejiang Medicines & Health Products Import & Export Co. Ltd. (Operational Creditor) filed a petition against Sonal Plasrub Industries Private Limited (Corporate Debtor) for defaulting on payments. The Operational Creditor supplied 2-Chloro Phenyl acetic acid and succinic acid to the Corporate Debtor, raising three invoices. The Corporate Debtor claimed the goods were of substandard quality and provided evidence of rejection letters and chemical analysis reports dating back to October and November 2015. The Operational Creditor issued demand notices, and the Corporate Debtor replied, denying liability due to quality issues. The Operational Creditor argued that the quality issue was raised belatedly. The Corporate Debtor filed a reply stating the petition was
…Corporate Debtor sent a…
Corporate Debtor sent…