Chemicorp Specialties India LLP (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, to initiate CIRP against Jayant Specialties Private Limited (Corporate Debtor) for an alleged default of Rs. 5,02,41,461.00. The Operational Creditor supplied chemical materials to the Corporate Debtor on credit, with a stipulated interest of 21% p.a. for delayed payments. Despite multiple demands, legal notices, and account confirmations, the Corporate Debtor failed to clear the outstanding dues. The Corporate Debtor contended a pre-existing dispute regarding the interest and the appropriation of payments, alleging coercion in signing confirmations and citing business difficulties.
Chemicorp Specialties India LLP (Operational Creditor) filed a Company Petition (C.P. (IB) 294/MB/2026) on 19.03.2026 under Section 9 of the IBC, 2016, against Jayant Specialties Private Limited (Corporate Debtor).
The Operational Creditor is a Partnership Firm registered under the Partnership Act, 1932, and is engaged in the business of supplying chemical materials.
The Corporate Debtor purchased chemical materials from the Operational Creditor under various Purchase Orders issued between May 2023 and August 2024.
The total value of the invoices raised by the Operational Creditor amounted to Rs. 3,36,15,612/-.
The Purchase Orders and Tax Invoices stipulated a credit period of 120 days and an interest rate of 21% p.a. on delayed payments.
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Jayant Specialties Private Limited (Corporate…
Purchase Orders issued…
Chemicorp Specialties India LLP (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, to initiate CIRP against Jayant Specialties Private Limited (Corporate Debtor) for an alleged default of Rs. 5,02,41,461.00. The Operational Creditor supplied chemical materials to the Corporate Debtor on credit, with a stipulated interest of 21% p.a. for delayed payments. Despite multiple demands, legal notices, and account confirmations, the Corporate Debtor failed to clear the outstanding dues. The Corporate Debtor contended a pre-existing dispute regarding the interest and the appropriation of payments, alleging coercion in signing confirmations and citing business difficulties.
Chemicorp Specialties India LLP (Operational Creditor) filed a Company Petition (C.P. (IB) 294/MB/2026) on 19.03.2026 under Section 9 of the IBC, 2016, against Jayant Specialties Private Limited (Corporate Debtor).
The Operational Creditor is a Partnership Firm registered under the Partnership Act, 1932, and is engaged in the business of supplying chemical materials.
The Corporate Debtor purchased chemical materials from the Operational Creditor under various Purchase Orders issued between May 2023 and August 2024.
The total value of the invoices raised by the Operational Creditor amounted to Rs. 3,36,15,612/-.
The Purchase Orders and Tax Invoices stipulated a credit period of 120 days and an interest rate of 21% p.a. on delayed payments.
…Jayant Specialties Private Limited (Corporate…
Purchase Orders issued…