This case involves an application filed by Ms. Bhumisha Shah, the sole proprietor of Candida Bio Aqua Solutions (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against West Coast Frozen Foods Private Limited (Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for shrimps and seafood supplied under twelve invoices. The corporate debtor disputed the claim, alleging that the amount of default did not cross the threshold of Rs. 1.00 crore, that the applicant suppressed material facts, and that disputes were raised prior to the issuance of the demand notice. The corporate debtor also claimed a barter agreement existed, and that a civil
…Ms. Bhumisha Shah, operating as Candida Bio Aqua Solutions, filed an application under Section 9 of the IBC to initiate CIRP against West Coast Frozen Foods Private Limited. The application was based on unpaid invoices for shrimp and seafood supplied between 20.10.2018 and 11.12.2018, totaling Rs. 1,15,88,665/-, with Rs. 40,00,000/- paid on 20.12.2018, leaving Rs. 75,88,665/- outstanding. A legal notice dated 10.02.2020, and a demand notice dated 07.07.2021 under Section 8 of the IBC, were served. The Corporate Debtor claimed that the amount of default does not cross the threshold of Rs. 1.00 crore, that the applicant suppressed material facts, and that disputes were raised prior to the issuance of the demand notice. The corporate debtor also claimed a barter agreement
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Applicant supplied shrimps and sea food…
Applicant supplied shrimps and sea food…
This case involves an application filed by Ms. Bhumisha Shah, the sole proprietor of Candida Bio Aqua Solutions (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against West Coast Frozen Foods Private Limited (Corporate Debtor). The applicant claimed that the corporate debtor defaulted on payments for shrimps and seafood supplied under twelve invoices. The corporate debtor disputed the claim, alleging that the amount of default did not cross the threshold of Rs. 1.00 crore, that the applicant suppressed material facts, and that disputes were raised prior to the issuance of the demand notice. The corporate debtor also claimed a barter agreement existed, and that a civil
…Ms. Bhumisha Shah, operating as Candida Bio Aqua Solutions, filed an application under Section 9 of the IBC to initiate CIRP against West Coast Frozen Foods Private Limited. The application was based on unpaid invoices for shrimp and seafood supplied between 20.10.2018 and 11.12.2018, totaling Rs. 1,15,88,665/-, with Rs. 40,00,000/- paid on 20.12.2018, leaving Rs. 75,88,665/- outstanding. A legal notice dated 10.02.2020, and a demand notice dated 07.07.2021 under Section 8 of the IBC, were served. The Corporate Debtor claimed that the amount of default does not cross the threshold of Rs. 1.00 crore, that the applicant suppressed material facts, and that disputes were raised prior to the issuance of the demand notice. The corporate debtor also claimed a barter agreement
…Applicant supplied shrimps and sea food…
Applicant supplied shrimps and sea food…