Orbit Electro Equipments Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Vetshield International Pvt. Ltd. The Operational Creditor claimed a default amount of Rs. 2,05,45,713/- based on outstanding invoices for goods supplied. The Corporate Debtor contested the application, citing delays in filing the petition, pre-existence of a dispute regarding the delay in delivery of goods, and other technical grounds related to interest charges. The Operational Creditor argued that there was no pre-existing dispute and that the petition was within the limitation period, considering the Supreme Court's exclusion of certain periods due to the COVID-19 pandemic.
Orbit Electro Equipments Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Vetshield International Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 2,05,45,713/- for goods supplied as per purchase orders. The invoices were OEEPL/0391/19-20 dated 19.10.2019 and OEEPL/0212/20-21 dated 28.02.2021. The Operational Creditor issued a demand notice on 6th April 2023, and subsequently, a fresh demand notice on 27th May 2024. The Corporate Debtor contended that there was a delay in filing the petition, a pre-existing dispute regarding the delay in delivery of goods, and that
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Invoice no. OEEPL/0391/1…
Invoice no. OEEPL/0391/1…
Orbit Electro Equipments Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Vetshield International Pvt. Ltd. The Operational Creditor claimed a default amount of Rs. 2,05,45,713/- based on outstanding invoices for goods supplied. The Corporate Debtor contested the application, citing delays in filing the petition, pre-existence of a dispute regarding the delay in delivery of goods, and other technical grounds related to interest charges. The Operational Creditor argued that there was no pre-existing dispute and that the petition was within the limitation period, considering the Supreme Court's exclusion of certain periods due to the COVID-19 pandemic.
Orbit Electro Equipments Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Vetshield International Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 2,05,45,713/- for goods supplied as per purchase orders. The invoices were OEEPL/0391/19-20 dated 19.10.2019 and OEEPL/0212/20-21 dated 28.02.2021. The Operational Creditor issued a demand notice on 6th April 2023, and subsequently, a fresh demand notice on 27th May 2024. The Corporate Debtor contended that there was a delay in filing the petition, a pre-existing dispute regarding the delay in delivery of goods, and that
…Invoice no. OEEPL/0391/1…
Invoice no. OEEPL/0391/1…