P B Holotech (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process (CIRP) against Farista Vanijya Private Limited, the corporate debtor.
P B Holotech (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Farista Vanijya Private Limited (Corporate Debtor).
The Operational Creditor claimed that the Corporate Debtor was indebted for a principal sum of Rs. 20,50,572/- along with interest.
The Corporate Debtor made part payments but failed to clear the entire dues.
The Operational Creditor issued a demand notice under Section 8 of the IBC claiming Rs. 29,18,991/- along with interest.
The Corporate Debtor contended that there were pre-existing disputes regarding the quality of goods, rates charged, and delayed delivery.
The Corporate Debtor had sent letters to the Operational Creditor prior to the demand notice raising these issues.
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The matter was…
Order was prono…
P B Holotech (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process (CIRP) against Farista Vanijya Private Limited, the corporate debtor.
P B Holotech (India) Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Farista Vanijya Private Limited (Corporate Debtor).
The Operational Creditor claimed that the Corporate Debtor was indebted for a principal sum of Rs. 20,50,572/- along with interest.
The Corporate Debtor made part payments but failed to clear the entire dues.
The Operational Creditor issued a demand notice under Section 8 of the IBC claiming Rs. 29,18,991/- along with interest.
The Corporate Debtor contended that there were pre-existing disputes regarding the quality of goods, rates charged, and delayed delivery.
The Corporate Debtor had sent letters to the Operational Creditor prior to the demand notice raising these issues.
…The matter was…
Order was prono…