The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) against Additri Traders Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Additri Traders Private Limited (Corporate Debtor).
The Operational Creditor supplied goods to the Corporate Debtor in March 2019.
The Corporate Debtor defaulted on a payment of Rs. 41,01,360/-.
The Operational Creditor sent reminders and a demand notice to the Corporate Debtor.
The Corporate Debtor acknowledged the debt in a Balance Confirmation Letter dated 04.04.2019.
The Corporate Debtor sought time for repayment but failed to honor its commitment.
The Corporate Debtor remained ex-parte during the proceedings.
The NCLT Mumbai Bench admitted the petition and initiated CIRP against the Corporate Debtor.
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The Operational…
Purchase order dated…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) against Additri Traders Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt.
Katyayan Mercantile and Trading Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Additri Traders Private Limited (Corporate Debtor).
The Operational Creditor supplied goods to the Corporate Debtor in March 2019.
The Corporate Debtor defaulted on a payment of Rs. 41,01,360/-.
The Operational Creditor sent reminders and a demand notice to the Corporate Debtor.
The Corporate Debtor acknowledged the debt in a Balance Confirmation Letter dated 04.04.2019.
The Corporate Debtor sought time for repayment but failed to honor its commitment.
The Corporate Debtor remained ex-parte during the proceedings.
The NCLT Mumbai Bench admitted the petition and initiated CIRP against the Corporate Debtor.
The Operational…
Purchase order dated…