The case involves an application filed by Indofil Industries Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Welfare Infrastructure Private Limited, the Corporate Debtor. The Operational Creditor claimed a default of Rs. 29,90,946/-. The Corporate Debtor had issued three purchase orders for the supply of Cemento CRP 365 (RDP) and Indocell HPMC 2100. The Operational Creditor supplied the goods and raised three invoices. The Corporate Debtor failed to make payments within the stipulated 60 days, leading to the issuance of a demand notice by the Operational Creditor.
Indofil Industries Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Welfare Infrastructure Private Limited (Corporate Debtor). The claim was for a default of Rs. 29,90,946/-. The Corporate Debtor issued three purchase orders on 2018-09-24, 2018-11-23, and 2018-12-28 for the supply of Cemento CRP 365 (RDP) and Indocell HPMC 2100, totaling Rs. 26,25,972/-. The Operational Creditor supplied the goods and raised invoices on the same dates, totaling Rs. 23,97,760/-. The invoices stipulated a 60-day credit period and an interest of 24% p.a. for delayed payments. The Corporate Debtor failed to make payments within the stipulated time. The
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Corporate Debtor issued…
Corporate Debtor issued…
The case involves an application filed by Indofil Industries Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Welfare Infrastructure Private Limited, the Corporate Debtor. The Operational Creditor claimed a default of Rs. 29,90,946/-. The Corporate Debtor had issued three purchase orders for the supply of Cemento CRP 365 (RDP) and Indocell HPMC 2100. The Operational Creditor supplied the goods and raised three invoices. The Corporate Debtor failed to make payments within the stipulated 60 days, leading to the issuance of a demand notice by the Operational Creditor.
Indofil Industries Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Welfare Infrastructure Private Limited (Corporate Debtor). The claim was for a default of Rs. 29,90,946/-. The Corporate Debtor issued three purchase orders on 2018-09-24, 2018-11-23, and 2018-12-28 for the supply of Cemento CRP 365 (RDP) and Indocell HPMC 2100, totaling Rs. 26,25,972/-. The Operational Creditor supplied the goods and raised invoices on the same dates, totaling Rs. 23,97,760/-. The invoices stipulated a 60-day credit period and an interest of 24% p.a. for delayed payments. The Corporate Debtor failed to make payments within the stipulated time. The
…Corporate Debtor issued…
Corporate Debtor issued…