Gandhar Oil Refinery India Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against TPI India Limited, claiming a default amount of Rs. 1,73,58,894/-. Gandhar Oil Refinery claimed to be an operational creditor based on the supply of goods to TPI India Limited.
Gandhar Oil Refinery India Limited filed a petition under Section 9 of the IBC to initiate CIRP against TPI India Limited.
The claimed default amount was Rs. 1,73,58,894/-.
Gandhar Oil Refinery India Limited claimed to be an operational creditor based on the supply of goods.
TPI India Limited argued that Gandhar Oil Refinery India Limited was acting as an agent of IOCL.
TPI India Limited contended that there was no privity of contract between them and Gandhar Oil Refinery India Limited.
The invoices were raised by IOCL, with Gandhar Oil Refinery India Limited mentioned as DCA (Del Credere Agent).
A Consignment Stockist Agreement and Del Credere Agreement existed between Gandhar Oil Refinery India Limited and IOCL.
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The date of default is…
The Petitioner issued a…
Gandhar Oil Refinery India Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against TPI India Limited, claiming a default amount of Rs. 1,73,58,894/-. Gandhar Oil Refinery claimed to be an operational creditor based on the supply of goods to TPI India Limited.
Gandhar Oil Refinery India Limited filed a petition under Section 9 of the IBC to initiate CIRP against TPI India Limited.
The claimed default amount was Rs. 1,73,58,894/-.
Gandhar Oil Refinery India Limited claimed to be an operational creditor based on the supply of goods.
TPI India Limited argued that Gandhar Oil Refinery India Limited was acting as an agent of IOCL.
TPI India Limited contended that there was no privity of contract between them and Gandhar Oil Refinery India Limited.
The invoices were raised by IOCL, with Gandhar Oil Refinery India Limited mentioned as DCA (Del Credere Agent).
A Consignment Stockist Agreement and Del Credere Agreement existed between Gandhar Oil Refinery India Limited and IOCL.
…The date of default is…
The Petitioner issued a…