Anchor Mark Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against JRN Pharma and Laboratories LLP (Corporate Debtor). The petition was filed due to an unpaid operational debt amounting to Rs. 3,15,73,177/- (including interest), with the date of default being 05.06.2023. The Operational Creditor supplied machinery to the Corporate Debtor, which allegedly failed to make payments despite a demand notice dated 20.10.2023. The Corporate Debtor disputed the debt, contending that the Operational Creditor failed to install and commission the machinery as per the purchase order terms, thereby claiming a pre-existing dispute and asserting the petition
…Anchor Mark Private Limited (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, against JRN Pharma and Laboratories LLP (Corporate Debtor).
The petition seeks to initiate CIRP due to non-payment of an operational debt amounting to Rs. 3,15,73,177/- (including interest).
The date of default stated in Form 3 is 05.06.2023.
The Operational Creditor is engaged in the manufacture and trade of ferrous and non-ferrous metal products and related services.
The Corporate Debtor availed machines from the Operational Creditor for manufacturing products and services.
The Operational Creditor supplied machines until June 2023, but the Corporate Debtor failed to make payments, accumulating to Rs. 3,15,73,177/- by 19.07.2023.
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Date of default stated…
Operational debt…
Anchor Mark Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against JRN Pharma and Laboratories LLP (Corporate Debtor). The petition was filed due to an unpaid operational debt amounting to Rs. 3,15,73,177/- (including interest), with the date of default being 05.06.2023. The Operational Creditor supplied machinery to the Corporate Debtor, which allegedly failed to make payments despite a demand notice dated 20.10.2023. The Corporate Debtor disputed the debt, contending that the Operational Creditor failed to install and commission the machinery as per the purchase order terms, thereby claiming a pre-existing dispute and asserting the petition
…Anchor Mark Private Limited (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, against JRN Pharma and Laboratories LLP (Corporate Debtor).
The petition seeks to initiate CIRP due to non-payment of an operational debt amounting to Rs. 3,15,73,177/- (including interest).
The date of default stated in Form 3 is 05.06.2023.
The Operational Creditor is engaged in the manufacture and trade of ferrous and non-ferrous metal products and related services.
The Corporate Debtor availed machines from the Operational Creditor for manufacturing products and services.
The Operational Creditor supplied machines until June 2023, but the Corporate Debtor failed to make payments, accumulating to Rs. 3,15,73,177/- by 19.07.2023.
…Date of default stated…
Operational debt…