The case pertains to a Company Petition No. C.P. (IB) 292/MB/2025 filed on 13.12.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Anil Kumar Gupta, Sole Proprietor of M/s Rashtriya Polymers & Solvent, the Operational Creditor (OC), for initiating Corporate Insolvency Resolution Process (CIRP) of Pushpak Auxichem Private Limited, the Corporate Debtor (CD).
The Company Petition No. C.P. (IB) 292/MB/2025 was filed on 13.12.2024 under Section 9 of the IBC.
The Operational Creditor, Rashtriya Polymers & Solvent, claimed a default of Rs. 1,45,01,717/- including principal and interest.
The Corporate Debtor, Pushpak Auxichem Private Limited, admitted to placing orders for industrial solvents but alleged that the supplies were not in accordance with agreed quality specifications.
The Operational Creditor issued a demand notice in Form 3 on 16.08.2024, which was served on the Corporate Debtor via email on 17.08.2024.
The Corporate Debtor responded to the demand notice on 23.09.2024, admitting financial difficulties and inability to make full payment.
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Company Petition No.…
Operational Creditor…
The case pertains to a Company Petition No. C.P. (IB) 292/MB/2025 filed on 13.12.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Anil Kumar Gupta, Sole Proprietor of M/s Rashtriya Polymers & Solvent, the Operational Creditor (OC), for initiating Corporate Insolvency Resolution Process (CIRP) of Pushpak Auxichem Private Limited, the Corporate Debtor (CD).
The Company Petition No. C.P. (IB) 292/MB/2025 was filed on 13.12.2024 under Section 9 of the IBC.
The Operational Creditor, Rashtriya Polymers & Solvent, claimed a default of Rs. 1,45,01,717/- including principal and interest.
The Corporate Debtor, Pushpak Auxichem Private Limited, admitted to placing orders for industrial solvents but alleged that the supplies were not in accordance with agreed quality specifications.
The Operational Creditor issued a demand notice in Form 3 on 16.08.2024, which was served on the Corporate Debtor via email on 17.08.2024.
The Corporate Debtor responded to the demand notice on 23.09.2024, admitting financial difficulties and inability to make full payment.
…Company Petition No.…
Operational Creditor…