The case involves an application filed by M/S Pattabi Enterprises, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Srikanth International Private Limited, the corporate debtor. Pattabi Enterprises claimed that Srikanth International Private Limited had defaulted on payments for packaging materials supplied for the export of seafood products. The operational creditor issued a statutory demand notice, but the corporate debtor failed to clear the outstanding dues.
M/S Pattabi Enterprises, a partnership firm engaged in printing and packaging, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S Srikanth International Private Limited. Srikanth International, a private limited company involved in the wholesale seafood business, availed packaging services from Pattabi Enterprises for exporting seafood. The commercial understanding was based on quotations, and invoices were raised after goods were supplied. All invoices were allegedly accepted without dispute. Pattabi Enterprises claimed that Srikanth International failed to pay outstanding dues. A statutory demand notice was issued on 2021-11-10 for Rs. 2,90,30,715/-, including a principal amount of Rs. 2,36,39,065/- and
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The case involves an application filed by M/S Pattabi Enterprises, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Srikanth International Private Limited, the corporate debtor. Pattabi Enterprises claimed that Srikanth International Private Limited had defaulted on payments for packaging materials supplied for the export of seafood products. The operational creditor issued a statutory demand notice, but the corporate debtor failed to clear the outstanding dues.
M/S Pattabi Enterprises, a partnership firm engaged in printing and packaging, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S Srikanth International Private Limited. Srikanth International, a private limited company involved in the wholesale seafood business, availed packaging services from Pattabi Enterprises for exporting seafood. The commercial understanding was based on quotations, and invoices were raised after goods were supplied. All invoices were allegedly accepted without dispute. Pattabi Enterprises claimed that Srikanth International failed to pay outstanding dues. A statutory demand notice was issued on 2021-11-10 for Rs. 2,90,30,715/-, including a principal amount of Rs. 2,36,39,065/- and
…The Insolven…
Invoices were issued…