M/s NPV Global FZ LLE, UAE (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against M/s Sneh Polymers Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 2,64,10,512.24/- arising from the supply of PP Granules. A demand notice was issued, to which the Corporate Debtor's Director acknowledged the debt for two specific invoices (totaling Rs. 1,32,05,256.12/-) but requested time for repayment due to financial distress. Subsequently, the Corporate Debtor declined payment and raised a dispute regarding the quality of goods for other invoices.
M/s NPV Global FZ LLE, UAE (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against M/s Sneh Polymers Pvt. Ltd. (Corporate Debtor/Respondent).
The default amount claimed is Rs. 2,64,10,512.24/-.
The Petitioner is a Free Zone Limited Liability Establishment engaged in general trading, including import-export of PP Granules.
The Respondent is a Company incorporated under the Companies Act, 2013 on 04.12.2019.
The Petitioner supplied goods to the Respondent and raised 4 tax invoices from 24.12.2025 to 29.01.2026 for an aggregate value of Rs. 2,64,10,512.24/-, with a credit period of 60 days.
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M/s NPV Global FZ LLE, UAE (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against M/s Sneh Polymers Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, for a default of Rs. 2,64,10,512.24/- arising from the supply of PP Granules. A demand notice was issued, to which the Corporate Debtor's Director acknowledged the debt for two specific invoices (totaling Rs. 1,32,05,256.12/-) but requested time for repayment due to financial distress. Subsequently, the Corporate Debtor declined payment and raised a dispute regarding the quality of goods for other invoices.
M/s NPV Global FZ LLE, UAE (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against M/s Sneh Polymers Pvt. Ltd. (Corporate Debtor/Respondent).
The default amount claimed is Rs. 2,64,10,512.24/-.
The Petitioner is a Free Zone Limited Liability Establishment engaged in general trading, including import-export of PP Granules.
The Respondent is a Company incorporated under the Companies Act, 2013 on 04.12.2019.
The Petitioner supplied goods to the Respondent and raised 4 tax invoices from 24.12.2025 to 29.01.2026 for an aggregate value of Rs. 2,64,10,512.24/-, with a credit period of 60 days.
…Petitioner started…
Petitioner raised the…