M/s Bajaj Kagaj Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an operational creditor against M/s Kaka Sons Private Limited, the corporate debtor, for initiation of Corporate Insolvency Resolution Process (CIRP).
M/s Bajaj Kagaj Limited filed an application under Section 9 of the IBC as an operational creditor against M/s Kaka Sons Private Limited.
The operational creditor claimed Rs. 28,98,158/- from the corporate debtor.
The application was filed before the Tribunal on 20.02.2021.
The operational creditor sent a demand notice dated 17.07.2020 demanding payment of the unpaid operational debt.
The corporate debtor raised objections, stating that the claimed amount was less than the pecuniary limit mandated under the IBC, the operational creditor supplied more goods than ordered, and the quality of goods was inferior.
The MCA notification dated 24.03.2020 increased the threshold limit for initiating CIRP to Rs. 1 crore.
…Sign in to view the parties.
Operational Creditor sent a Demand Notice dated…
MCA notification dated 24.03.2020 increased…
M/s Bajaj Kagaj Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an operational creditor against M/s Kaka Sons Private Limited, the corporate debtor, for initiation of Corporate Insolvency Resolution Process (CIRP).
M/s Bajaj Kagaj Limited filed an application under Section 9 of the IBC as an operational creditor against M/s Kaka Sons Private Limited.
The operational creditor claimed Rs. 28,98,158/- from the corporate debtor.
The application was filed before the Tribunal on 20.02.2021.
The operational creditor sent a demand notice dated 17.07.2020 demanding payment of the unpaid operational debt.
The corporate debtor raised objections, stating that the claimed amount was less than the pecuniary limit mandated under the IBC, the operational creditor supplied more goods than ordered, and the quality of goods was inferior.
The MCA notification dated 24.03.2020 increased the threshold limit for initiating CIRP to Rs. 1 crore.
…Operational Creditor sent a Demand Notice dated…
MCA notification dated 24.03.2020 increased…