The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating Corporate Insolvency Resolution Process (CIRP).
Newgen Speciality Plastics Limited, through its liquidator Mr. Anil Kumar, filed an application claiming to be an operational creditor.
The operational creditor supplied LLDPE Compound to the corporate debtor.
The operational creditor raised invoices aggregating to Rs. 92,45,001/-.
A demand notice was sent on 30.01.2020 for the unpaid operational debt.
The respondent, Prominent Polymers Private Limited, did not appear in the matter.
The outstanding amount was in consonance with the demand notice dated 30.01.2020.
The amount of default is above the minimum threshold limit of Rs. One Lakh as per Section 4 of the IBC, 2016.
The applicant has proposed the name of an IRP, Mr. Rajesh Kumar Parakh.
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Application filed on 04.03.2020 claiming as the…
The applicant sent a Demand Notice dated…
The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating Corporate Insolvency Resolution Process (CIRP).
Newgen Speciality Plastics Limited, through its liquidator Mr. Anil Kumar, filed an application claiming to be an operational creditor.
The operational creditor supplied LLDPE Compound to the corporate debtor.
The operational creditor raised invoices aggregating to Rs. 92,45,001/-.
A demand notice was sent on 30.01.2020 for the unpaid operational debt.
The respondent, Prominent Polymers Private Limited, did not appear in the matter.
The outstanding amount was in consonance with the demand notice dated 30.01.2020.
The amount of default is above the minimum threshold limit of Rs. One Lakh as per Section 4 of the IBC, 2016.
The applicant has proposed the name of an IRP, Mr. Rajesh Kumar Parakh.
…Application filed on 04.03.2020 claiming as the…
The applicant sent a Demand Notice dated…