Dashabahu Multitrade Private Limited, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Tanishi Tradewell Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 5,16,78,260/- based on 6 invoices issued to the Corporate Debtor, including principal and interest. The Corporate Debtor acknowledged the debt but cited defective material and proposed a settlement plan involving returning unsold material and repaying the outstanding amount in installments.
Dashabahu Multitrade Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Tanishi Tradewell Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor claimed Rs. 5,16,78,260/- based on 6 invoices. The date of default was 21.03.2020. The Operational Creditor supplied Linen Fabrics based on purchase orders. Total sales from 01.04.2019 to 14.03.2020 amounted to Rs. 112,82,54,452/-, with Rs. 2,52,84,809/- received and Rs. 105,85,89,240/- adjusted through a Tri-Partite Agreement dated 31.03.2020. The last payment was on 18.03.2020 for Rs. 4,27,050/-, leaving Rs. 4,43,80,403/- outstanding. Demand Notices were issued but returned with the remark 'No such person in the
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C.P. (IB) No.…
Operational Creditor filed Board Resolution in…
Dashabahu Multitrade Private Limited, the Operational Creditor/Applicant, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Tanishi Tradewell Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a total amount of Rs. 5,16,78,260/- based on 6 invoices issued to the Corporate Debtor, including principal and interest. The Corporate Debtor acknowledged the debt but cited defective material and proposed a settlement plan involving returning unsold material and repaying the outstanding amount in installments.
Dashabahu Multitrade Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Tanishi Tradewell Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor claimed Rs. 5,16,78,260/- based on 6 invoices. The date of default was 21.03.2020. The Operational Creditor supplied Linen Fabrics based on purchase orders. Total sales from 01.04.2019 to 14.03.2020 amounted to Rs. 112,82,54,452/-, with Rs. 2,52,84,809/- received and Rs. 105,85,89,240/- adjusted through a Tri-Partite Agreement dated 31.03.2020. The last payment was on 18.03.2020 for Rs. 4,27,050/-, leaving Rs. 4,43,80,403/- outstanding. Demand Notices were issued but returned with the remark 'No such person in the
…C.P. (IB) No.…
Operational Creditor filed Board Resolution in…