The case involves a Company Petition filed by Puja Enterprises, the Operational Creditor, against Topaim Properties Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) for an operational debt of Rs. 3,78,060.50. The Operational Creditor supplied Polyster Resin and Fibermat, Clear Epoxy with Hardner to the Corporate Debtor, raising invoices for the same. The Corporate Debtor failed to make payments despite repeated requests and commitments. The Operational Creditor issued a demand notice on July 15, 2019, under Section 8 of the IBC Act, 2016.
Puja Enterprises (Operational Creditor) filed a petition against Topaim Properties Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 3,78,060.50. The Operational Creditor supplied Polyster Resin, Fibermat, and Clear Epoxy with Hardner to the Corporate Debtor based on their requests, and subsequently raised invoices. The Corporate Debtor failed to make payments despite repeated requests and commitments. A demand notice was issued on July 15, 2019, under Section 8 of the IBC Act, 2016. The Corporate Debtor claimed the supplied goods were initially of good quality, but later consignments had issues, specifically with the Resin turning into Gel within 7 days. They informed
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The Operational Creditor issued a demand notice…
The Ld. Counsel appearing for the Corporate…
The case involves a Company Petition filed by Puja Enterprises, the Operational Creditor, against Topaim Properties Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) for an operational debt of Rs. 3,78,060.50. The Operational Creditor supplied Polyster Resin and Fibermat, Clear Epoxy with Hardner to the Corporate Debtor, raising invoices for the same. The Corporate Debtor failed to make payments despite repeated requests and commitments. The Operational Creditor issued a demand notice on July 15, 2019, under Section 8 of the IBC Act, 2016.
Puja Enterprises (Operational Creditor) filed a petition against Topaim Properties Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 3,78,060.50. The Operational Creditor supplied Polyster Resin, Fibermat, and Clear Epoxy with Hardner to the Corporate Debtor based on their requests, and subsequently raised invoices. The Corporate Debtor failed to make payments despite repeated requests and commitments. A demand notice was issued on July 15, 2019, under Section 8 of the IBC Act, 2016. The Corporate Debtor claimed the supplied goods were initially of good quality, but later consignments had issues, specifically with the Resin turning into Gel within 7 days. They informed
…The Operational Creditor issued a demand notice…
The Ld. Counsel appearing for the Corporate…