BPC Technologies India Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Om Shri Shubh Labh Agritech Pvt Ltd for initiation of Corporate Insolvency Resolution Process (CIRP) due to defaulted payment of outstanding dues amounting to Rs. 148,98,00,081/- including interest.
BPC Technologies India Pvt Ltd (Operational Creditor) filed an application under Section 9 of the IBC against Om Shri Shubh Labh Agritech Pvt Ltd (Corporate Debtor).
The application was filed on 11.10.2022.
The Operational Creditor claimed a default of Rs. 148,98,00,081/- including interest.
The debt arose from the supply of agricultural commodities under a Commodity Procurement Contract dated 05.08.2020 and Tripartite Agreements dated 07.06.2021.
A Payment Restructuration Agreement (PRA) was executed in January 2022, but the Corporate Debtor breached the agreement.
The Corporate Debtor made partial payments but failed to clear the entire outstanding dues.
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Commodity Procurement Contract was executed…
Tripartite Agreements were executed between the…
BPC Technologies India Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Om Shri Shubh Labh Agritech Pvt Ltd for initiation of Corporate Insolvency Resolution Process (CIRP) due to defaulted payment of outstanding dues amounting to Rs. 148,98,00,081/- including interest.
BPC Technologies India Pvt Ltd (Operational Creditor) filed an application under Section 9 of the IBC against Om Shri Shubh Labh Agritech Pvt Ltd (Corporate Debtor).
The application was filed on 11.10.2022.
The Operational Creditor claimed a default of Rs. 148,98,00,081/- including interest.
The debt arose from the supply of agricultural commodities under a Commodity Procurement Contract dated 05.08.2020 and Tripartite Agreements dated 07.06.2021.
A Payment Restructuration Agreement (PRA) was executed in January 2022, but the Corporate Debtor breached the agreement.
The Corporate Debtor made partial payments but failed to clear the entire outstanding dues.
…Commodity Procurement Contract was executed…
Tripartite Agreements were executed between the…