Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the IBC against Socrus Pharmaceuticals Ltd (Corporate Debtor) for default in payment of operational debt. The debt arose from the supply of Dollar Chana (Chickpeas) worth Rs. 1,41,60,000/-. Payment was due within 20 days of delivery, with 24% interest for delays. A demand notice was issued, and the Corporate Debtor acknowledged the liability but sought a waiver of interest and proposed settlement in instalments. The Corporate Debtor also disclosed its own pending Section 10 application for CIRP.
Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Socrus Pharmaceuticals Ltd (Corporate Debtor).
The application seeks initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
The Operational Creditor is engaged in the business of trading and supply of Dollar Chana (Chickpeas).
A Purchase Contract dated 15.03.2024 was executed between the parties.
The Operational Creditor supplied Dollar Chana (Chickpeas) to the Corporate Debtor in April 2024.
Five invoices aggregating to Rs. 1,41,60,000/- were raised on 06.04.2024 and 07.04.2024.
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A Purchase Contract was executed between Maa…
Maa Annapurna Traders…
Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the IBC against Socrus Pharmaceuticals Ltd (Corporate Debtor) for default in payment of operational debt. The debt arose from the supply of Dollar Chana (Chickpeas) worth Rs. 1,41,60,000/-. Payment was due within 20 days of delivery, with 24% interest for delays. A demand notice was issued, and the Corporate Debtor acknowledged the liability but sought a waiver of interest and proposed settlement in instalments. The Corporate Debtor also disclosed its own pending Section 10 application for CIRP.
Maa Annapurna Traders (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Socrus Pharmaceuticals Ltd (Corporate Debtor).
The application seeks initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
The Operational Creditor is engaged in the business of trading and supply of Dollar Chana (Chickpeas).
A Purchase Contract dated 15.03.2024 was executed between the parties.
The Operational Creditor supplied Dollar Chana (Chickpeas) to the Corporate Debtor in April 2024.
Five invoices aggregating to Rs. 1,41,60,000/- were raised on 06.04.2024 and 07.04.2024.
…A Purchase Contract was executed between Maa…
Maa Annapurna Traders…