The case involves an application filed by Ramanuj Cotton Corporation (Coimbatore), the Operational Creditor, against Sri Lakshmi Saraswathi Impeex (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 20,69,035/- as due and payable as of 26.09.2019, based on three invoices for the supply of yarns. The Corporate Debtor disputed the claim, alleging that the supplied yarn was of inferior quality and had been returned. The Corporate Debtor also contended that the Operational Creditor had erroneously given credit for yarn returns and that there was a pre-existing dispute regarding the quality of the goods.
Ramanuj Cotton Corporation (Coimbatore), the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Sri Lakshmi Saraswathi Impeex (India) Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 20,69,035/- as due and payable as of 26.09.2019, based on three invoices for the supply of yarns. The invoices were dated 14.04.2019 (Rs. 4,24,042/-), 17.04.2018 (Rs. 11,40,300/-), and 30.04.2018 (Rs. 11,46,743/-), totaling Rs. 27,11,085/-. The Operational Creditor gave credit of Rs. 9,50,250/- on account of yarn returns. The Corporate Debtor disputed the claim, alleging that the supplied yarn was of inferior quality and had
…Sign in to view the parties.
Invoice No. RCT…
Invoice No. RCT…
The case involves an application filed by Ramanuj Cotton Corporation (Coimbatore), the Operational Creditor, against Sri Lakshmi Saraswathi Impeex (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 20,69,035/- as due and payable as of 26.09.2019, based on three invoices for the supply of yarns. The Corporate Debtor disputed the claim, alleging that the supplied yarn was of inferior quality and had been returned. The Corporate Debtor also contended that the Operational Creditor had erroneously given credit for yarn returns and that there was a pre-existing dispute regarding the quality of the goods.
Ramanuj Cotton Corporation (Coimbatore), the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Sri Lakshmi Saraswathi Impeex (India) Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a sum of Rs. 20,69,035/- as due and payable as of 26.09.2019, based on three invoices for the supply of yarns. The invoices were dated 14.04.2019 (Rs. 4,24,042/-), 17.04.2018 (Rs. 11,40,300/-), and 30.04.2018 (Rs. 11,46,743/-), totaling Rs. 27,11,085/-. The Operational Creditor gave credit of Rs. 9,50,250/- on account of yarn returns. The Corporate Debtor disputed the claim, alleging that the supplied yarn was of inferior quality and had
…Invoice No. RCT…
Invoice No. RCT…