The case involves a petition filed by M/S Tapovan Enterprise, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S. Suvishrhu Specialty Chemicals Private Limited, the corporate debtor, due to non-payment of an operational debt. The operational creditor had been supplying chemicals to the corporate debtor for several years. Invoices were raised for services provided between February 2019 and July 2023. The corporate debtor had assured payments and issued post-dated cheques, but failed to make full payments. A demand notice was served under Section 8 of the Code.
M/S Tapovan Enterprise, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S. Suvishrhu Specialty Chemicals Private Limited, the corporate debtor. The operational debt amounted to Rs. 4,98,19,196, inclusive of interest and taxes as of 31.08.2023. The operational creditor had been supplying chemicals to the corporate debtor for several years, with invoices raised between February 2019 and July 2023. The corporate debtor issued post-dated cheques and promised payments, but failed to pay the full amount. A demand notice was served on 27.07.2023 under Section 8 of the Code. The corporate debtor acknowledged the debt and proposed installment payments, but failed to consistently meet these
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The case involves a petition filed by M/S Tapovan Enterprise, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S. Suvishrhu Specialty Chemicals Private Limited, the corporate debtor, due to non-payment of an operational debt. The operational creditor had been supplying chemicals to the corporate debtor for several years. Invoices were raised for services provided between February 2019 and July 2023. The corporate debtor had assured payments and issued post-dated cheques, but failed to make full payments. A demand notice was served under Section 8 of the Code.
M/S Tapovan Enterprise, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/S. Suvishrhu Specialty Chemicals Private Limited, the corporate debtor. The operational debt amounted to Rs. 4,98,19,196, inclusive of interest and taxes as of 31.08.2023. The operational creditor had been supplying chemicals to the corporate debtor for several years, with invoices raised between February 2019 and July 2023. The corporate debtor issued post-dated cheques and promised payments, but failed to pay the full amount. A demand notice was served on 27.07.2023 under Section 8 of the Code. The corporate debtor acknowledged the debt and proposed installment payments, but failed to consistently meet these
…Invoices against…
The last delivery of…