Prabhat Marketing Co. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Tirrihannah Co. Ltd. (Corporate Debtor). The Operational Creditor claimed a total amount of ₹46,39,622/- along with interest @14% from 90 days from the date of invoice till the date of final payment. The Corporate Debtor contested the claim, alleging pre-existing disputes regarding the quality of agrochemicals supplied by the Operational Creditor, specifically the 'Miteshot' brand pesticide.
Prabhat Marketing Co. Ltd. (Operational Creditor) supplied agrochemicals to Tirrihannah Co. Ltd. (Corporate Debtor) for its tea estate. The Operational Creditor claimed ₹46,39,622/- with interest, alleging non-payment for supplies. The Corporate Debtor contended that the Operational Creditor advised the use of 'Miteshot' pesticide, which proved ineffective and damaged the tea crop, causing financial losses. Prior to 2012, the Corporate Debtor used 'Magister' brand. In 2018, the Operational Creditor allegedly recommended 'Miteshot' as a replacement, claiming it was more effective. The Corporate Debtor returned the balance 'Miteshot', and the Operational Creditor issued a credit note. The Corporate Debtor informed the Operational Creditor of the financial loss via a
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Corporate Debtor…
Operational Creditor allegedly recommended…
Prabhat Marketing Co. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Tirrihannah Co. Ltd. (Corporate Debtor). The Operational Creditor claimed a total amount of ₹46,39,622/- along with interest @14% from 90 days from the date of invoice till the date of final payment. The Corporate Debtor contested the claim, alleging pre-existing disputes regarding the quality of agrochemicals supplied by the Operational Creditor, specifically the 'Miteshot' brand pesticide.
Prabhat Marketing Co. Ltd. (Operational Creditor) supplied agrochemicals to Tirrihannah Co. Ltd. (Corporate Debtor) for its tea estate. The Operational Creditor claimed ₹46,39,622/- with interest, alleging non-payment for supplies. The Corporate Debtor contended that the Operational Creditor advised the use of 'Miteshot' pesticide, which proved ineffective and damaged the tea crop, causing financial losses. Prior to 2012, the Corporate Debtor used 'Magister' brand. In 2018, the Operational Creditor allegedly recommended 'Miteshot' as a replacement, claiming it was more effective. The Corporate Debtor returned the balance 'Miteshot', and the Operational Creditor issued a credit note. The Corporate Debtor informed the Operational Creditor of the financial loss via a
…Corporate Debtor…
Operational Creditor allegedly recommended…