M/s. Mittal & Brothers, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Jazzcon Engineers Pvt. Ltd. for defaulting on payments.
M/s. Mittal & Brothers (Operational Creditor) supplied electrical goods to M/s. Jazzcon Engineers Pvt. Ltd. (Corporate Debtor) from 2008 to 2016, and the Corporate Debtor made timely payments during this period.
The Operational Creditor resumed supplying electrical goods to the Corporate Debtor on 08.05.2020, but the Corporate Debtor failed to clear outstanding dues.
The invoices contained a stipulation that interest would be charged at 24% per annum on bills not paid within 30 days.
The Corporate Debtor issued several cheques, some of which were honored, while others were dishonored.
The Operational Creditor issued a legal notice dated 04.09.2024 under Section 138 of the Negotiable Instruments Act, 1881, in respect of dishonor of cheque(s).
…Sign in to view the parties.
Operational Creditor…
Operational Creditor issued a legal notice…
M/s. Mittal & Brothers, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Jazzcon Engineers Pvt. Ltd. for defaulting on payments.
M/s. Mittal & Brothers (Operational Creditor) supplied electrical goods to M/s. Jazzcon Engineers Pvt. Ltd. (Corporate Debtor) from 2008 to 2016, and the Corporate Debtor made timely payments during this period.
The Operational Creditor resumed supplying electrical goods to the Corporate Debtor on 08.05.2020, but the Corporate Debtor failed to clear outstanding dues.
The invoices contained a stipulation that interest would be charged at 24% per annum on bills not paid within 30 days.
The Corporate Debtor issued several cheques, some of which were honored, while others were dishonored.
The Operational Creditor issued a legal notice dated 04.09.2024 under Section 138 of the Negotiable Instruments Act, 1881, in respect of dishonor of cheque(s).
…Operational Creditor…
Operational Creditor issued a legal notice…