Lokesh Santoshji Agarwal (Operational Creditor/Applicant), a proprietorship firm supplying grains, filed an application under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Arpana W Flour Mills Private Limited (Corporate Debtor), a private limited company engaged in flour milling. The Applicant claimed an operational debt of Rs. 2,03,77,512/- arising from the supply of wheat and other agri-commodity products since FY 2017-2018. The Corporate Debtor was converted to a Private Limited Company on 23.07.2020. The last invoice date was 06.05.2021, and the date of default was determined as 21.06.2021, after considering the 45-day payment term.
Lokesh Santoshji Agarwal (Applicant/Operational Creditor) filed an application under Section 9 of the IBC, 2016, to initiate CIRP against Arpana W Flour Mills Private Limited (Corporate Debtor).
The Applicant claimed an operational debt of Rs. 2,03,77,512/- for the supply of agri-commodity products (Wheat) to the Corporate Debtor since FY 2017-2018.
The Corporate Debtor was converted into a Private Limited Company on 23.07.2020, and outstanding balances were transferred to its name.
The last invoice date was 06.05.2021, and the date of default, calculated as 45+1 days after the payment due date, was 21.06.2021.
The Operational Creditor issued a legal notice for outstanding dues on 21.04.2024.
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Operational Creditor and Corporate Debtor…
Arpana W Flour Mills Private Limited was…
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Lokesh Santoshji Agarwal (Operational Creditor/Applicant), a proprietorship firm supplying grains, filed an application under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Arpana W Flour Mills Private Limited (Corporate Debtor), a private limited company engaged in flour milling. The Applicant claimed an operational debt of Rs. 2,03,77,512/- arising from the supply of wheat and other agri-commodity products since FY 2017-2018. The Corporate Debtor was converted to a Private Limited Company on 23.07.2020. The last invoice date was 06.05.2021, and the date of default was determined as 21.06.2021, after considering the 45-day payment term.
Lokesh Santoshji Agarwal (Applicant/Operational Creditor) filed an application under Section 9 of the IBC, 2016, to initiate CIRP against Arpana W Flour Mills Private Limited (Corporate Debtor).
The Applicant claimed an operational debt of Rs. 2,03,77,512/- for the supply of agri-commodity products (Wheat) to the Corporate Debtor since FY 2017-2018.
The Corporate Debtor was converted into a Private Limited Company on 23.07.2020, and outstanding balances were transferred to its name.
The last invoice date was 06.05.2021, and the date of default, calculated as 45+1 days after the payment due date, was 21.06.2021.
The Operational Creditor issued a legal notice for outstanding dues on 21.04.2024.
…Operational Creditor and Corporate Debtor…
Arpana W Flour Mills Private Limited was…
Sign in to view related legal provisions.