Ingram Micro India Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution process against Fbonline Trading Private Limited for an alleged default of Rs. 1,21,35,589.75.
Ingram Micro India Private Limited (Operational Creditor) filed an application to initiate CIRP against Fbonline Trading Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016.
The Operational Creditor claimed a default of Rs. 1,21,35,589.75, including interest of Rs. 42,73,463.75 calculated at 24% annually till 19.07.2021.
The Corporate Debtor is engaged in the business of providing wholesale services of household goods including electronic items.
The Operational Creditor and the Corporate Debtor were engaged in business transactions since January 2016.
The Corporate Debtor issued a cheque dated 21th July 2020 for Rs. 78,62,126.00, which was dishonoured with comments 'Payment Stopped By Drawer'.
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Corporate Debtor issued…
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Ingram Micro India Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution process against Fbonline Trading Private Limited for an alleged default of Rs. 1,21,35,589.75.
Ingram Micro India Private Limited (Operational Creditor) filed an application to initiate CIRP against Fbonline Trading Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016.
The Operational Creditor claimed a default of Rs. 1,21,35,589.75, including interest of Rs. 42,73,463.75 calculated at 24% annually till 19.07.2021.
The Corporate Debtor is engaged in the business of providing wholesale services of household goods including electronic items.
The Operational Creditor and the Corporate Debtor were engaged in business transactions since January 2016.
The Corporate Debtor issued a cheque dated 21th July 2020 for Rs. 78,62,126.00, which was dishonoured with comments 'Payment Stopped By Drawer'.
…Corporate Debtor issued…
The cheque was…