Shree Hari Yarns Private Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Ahuja Synfab Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, alleging a default of Rs. 1,41,98,849/- for yarn supplied. The OC claimed the CD failed to pay the principal amount and interest on delayed payments as per invoices, and did not dispute the demand notices.
CP (IB) No. 747/MB/2024 was filed on 27.09.2024 under Section 9 of the IBC, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Shree Hari Yarns Private Ltd. is the Operational Creditor (OC) and Ahuja Synfab Private Limited is the Corporate Debtor (CD).
The OC, through Mr. Ravi Shankar Panchloriya, Director, initiated CIRP against the CD.
The total alleged default amount is Rs. 1,41,98,849/- as of 20th April, 2024.
This amount comprises a principal of Rs. 1,10,42,055/- and interest of Rs. 31,56,794/-.
Eight unpaid invoices are annexed with the Petition, each containing a clause for 18% p.a. interest on delayed payment.
The record of default has been notified to the Information Utility.
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Shree Hari Yarns Private Ltd. supplied…
Invoices for yarn supply were raised by the…
Shree Hari Yarns Private Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Ahuja Synfab Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, alleging a default of Rs. 1,41,98,849/- for yarn supplied. The OC claimed the CD failed to pay the principal amount and interest on delayed payments as per invoices, and did not dispute the demand notices.
CP (IB) No. 747/MB/2024 was filed on 27.09.2024 under Section 9 of the IBC, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Shree Hari Yarns Private Ltd. is the Operational Creditor (OC) and Ahuja Synfab Private Limited is the Corporate Debtor (CD).
The OC, through Mr. Ravi Shankar Panchloriya, Director, initiated CIRP against the CD.
The total alleged default amount is Rs. 1,41,98,849/- as of 20th April, 2024.
This amount comprises a principal of Rs. 1,10,42,055/- and interest of Rs. 31,56,794/-.
Eight unpaid invoices are annexed with the Petition, each containing a clause for 18% p.a. interest on delayed payment.
The record of default has been notified to the Information Utility.
…Shree Hari Yarns Private Ltd. supplied…
Invoices for yarn supply were raised by the…