The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Hukum Singh & Sons, an operational creditor, against M/s. US Graphics Private Limited, the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for supplied goods. The application was filed because the corporate debtor allegedly failed to pay an outstanding debt of Rs. 14,16,633/-, which included principal and interest. The Adjudicating Authority observed that the operational debt was less than the threshold limit of Rs. 1 Crore, leading to a hearing on the maintainability of the application.
M/s. Hukum Singh & Sons (Partnership Firm) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against US Graphics Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Hukum Singh & Sons claimed to be an operational creditor of US Graphics Private Limited, alleging that US Graphics Private Limited defaulted on payments for goods supplied. The total amount claimed by the operational creditor was Rs. 14,16,633/-, which included a principal amount of Rs. 8,32,104/- and an interest amount of Rs. 5,84,529/-. The invoices were raised between December 20, 2017, and February 11, 2020. A demand notice was issued on July 7, 2021, under Section 8 of the IBC. The Adjudicating Authority noted that the
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Hukum Singh & Sons, an operational creditor, against M/s. US Graphics Private Limited, the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for supplied goods. The application was filed because the corporate debtor allegedly failed to pay an outstanding debt of Rs. 14,16,633/-, which included principal and interest. The Adjudicating Authority observed that the operational debt was less than the threshold limit of Rs. 1 Crore, leading to a hearing on the maintainability of the application.
M/s. Hukum Singh & Sons (Partnership Firm) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against US Graphics Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Hukum Singh & Sons claimed to be an operational creditor of US Graphics Private Limited, alleging that US Graphics Private Limited defaulted on payments for goods supplied. The total amount claimed by the operational creditor was Rs. 14,16,633/-, which included a principal amount of Rs. 8,32,104/- and an interest amount of Rs. 5,84,529/-. The invoices were raised between December 20, 2017, and February 11, 2020. A demand notice was issued on July 7, 2021, under Section 8 of the IBC. The Adjudicating Authority noted that the
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