Covalent Laboratories Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Centurion Remedies Pvt. Ltd., seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
Covalent Laboratories Pvt. Ltd. filed a Company Petition against Centurion Remedies Pvt. Ltd. under Section 9 of the IBC, 2016, seeking initiation of CIRP.
The Operational Creditor claimed an operational debt of Rs. 3,25,83,584/- along with interest arising from the supply of goods.
The Corporate Debtor contended that there were pre-existing disputes between the parties regarding delays and deficiencies in supply.
The Corporate Debtor made a part payment of Rs. 10,00,000/- on 14.11.2025 after the issuance of the Demand Notice.
The Operational Creditor issued a demand notice dated 24.03.2025 to the Corporate Debtor demanding payment of the outstanding operational debt.
The date of default is stated to be 17.05.2024.
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Covalent Laboratories Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Centurion Remedies Pvt. Ltd., seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
Covalent Laboratories Pvt. Ltd. filed a Company Petition against Centurion Remedies Pvt. Ltd. under Section 9 of the IBC, 2016, seeking initiation of CIRP.
The Operational Creditor claimed an operational debt of Rs. 3,25,83,584/- along with interest arising from the supply of goods.
The Corporate Debtor contended that there were pre-existing disputes between the parties regarding delays and deficiencies in supply.
The Corporate Debtor made a part payment of Rs. 10,00,000/- on 14.11.2025 after the issuance of the Demand Notice.
The Operational Creditor issued a demand notice dated 24.03.2025 to the Corporate Debtor demanding payment of the outstanding operational debt.
The date of default is stated to be 17.05.2024.
The Company P…
The Operational…
Sign in to view related legal provisions.