M/s Origin Appliances Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Indospirit Bars Private Limited (Corporate Debtor/Respondent) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding operational debt of Rs. 1,92,77,231/-, comprising principal debt for liquor supplies and interest. The Corporate Debtor disputed the debt, primarily on grounds of limitation, alleging that the debt was time-barred, and that no crystallised debt existed due to 'Cash & Carry' terms and pending trade discounts/reconciliations.
M/s Origin Appliances Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC on 03.04.2026 against M/s Indospirit Bars Private Limited (Corporate Debtor).
The Operational Creditor claimed an outstanding operational debt of Rs. 1,92,77,231/-, consisting of a principal debt of Rs. 1,08,50,949/- and interest of Rs. 84,26,282/- at 24% per annum from 01.10.2022 to 25.12.2025.
The Operational Creditor supplied Indian Made Foreign Liquor (IMFL) to the Corporate Debtor from 10.08.2022 to 27.08.2022 for a total value of Rs. 1,66,05,244/-.
The Operational Creditor issued credit notes for trade discount ('trade payout') aggregating to Rs. 57,54,295/- for the Financial Year 2022-23.
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M/s Origin Appliances Private Limited started…
The last supply of IMFL was made, and the last…
M/s Origin Appliances Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Indospirit Bars Private Limited (Corporate Debtor/Respondent) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding operational debt of Rs. 1,92,77,231/-, comprising principal debt for liquor supplies and interest. The Corporate Debtor disputed the debt, primarily on grounds of limitation, alleging that the debt was time-barred, and that no crystallised debt existed due to 'Cash & Carry' terms and pending trade discounts/reconciliations.
M/s Origin Appliances Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC on 03.04.2026 against M/s Indospirit Bars Private Limited (Corporate Debtor).
The Operational Creditor claimed an outstanding operational debt of Rs. 1,92,77,231/-, consisting of a principal debt of Rs. 1,08,50,949/- and interest of Rs. 84,26,282/- at 24% per annum from 01.10.2022 to 25.12.2025.
The Operational Creditor supplied Indian Made Foreign Liquor (IMFL) to the Corporate Debtor from 10.08.2022 to 27.08.2022 for a total value of Rs. 1,66,05,244/-.
The Operational Creditor issued credit notes for trade discount ('trade payout') aggregating to Rs. 57,54,295/- for the Financial Year 2022-23.
…M/s Origin Appliances Private Limited started…
The last supply of IMFL was made, and the last…