Dhanuka Udyog Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kamala Board Box Private Limited, the Corporate Debtor, for an alleged default of Rs. 1,42,31,573.96 as on 20.02.2024.
Dhanuka Udyog Private Limited (Operational Creditor) supplied Kraft Paper to Kamala Board Box Private Limited (Corporate Debtor).
The Corporate Debtor defaulted on payments for the supplied goods, leading to an outstanding amount of Rs. 1,42,31,573.96 as on 20.02.2024.
The Operational Creditor issued demand notices to the Corporate Debtor, who replied questioning the calculations and disputing a bill.
The Corporate Debtor made part payments totaling Rs. 44,50,000 between July 2021 and January 2024.
The Corporate Debtor claimed that the default occurred during the period protected under Section 10A of the IBC.
The Operational Creditor levied interest at 18% on delayed payments, which the Corporate Debtor disputed.
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The Operational Creditor claimed the date of…
Date of Pronou…
Dhanuka Udyog Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kamala Board Box Private Limited, the Corporate Debtor, for an alleged default of Rs. 1,42,31,573.96 as on 20.02.2024.
Dhanuka Udyog Private Limited (Operational Creditor) supplied Kraft Paper to Kamala Board Box Private Limited (Corporate Debtor).
The Corporate Debtor defaulted on payments for the supplied goods, leading to an outstanding amount of Rs. 1,42,31,573.96 as on 20.02.2024.
The Operational Creditor issued demand notices to the Corporate Debtor, who replied questioning the calculations and disputing a bill.
The Corporate Debtor made part payments totaling Rs. 44,50,000 between July 2021 and January 2024.
The Corporate Debtor claimed that the default occurred during the period protected under Section 10A of the IBC.
The Operational Creditor levied interest at 18% on delayed payments, which the Corporate Debtor disputed.
…The Operational Creditor claimed the date of…
Date of Pronou…