Stove Kraft Ltd. (Operational Creditor) initiated CIRP against Pathways Retail Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for an unpaid operational debt of Rs. 5,87,90,837/- plus 18% interest from 03.01.2024. The debt arose from a supply agreement for kitchen appliances, with invoices totaling over Rs. 6.8 Crores. After adjustments, Rs. 6,37,12,107/- remained due. A legal notice and a demand notice were served, but the Corporate Debtor failed to respond or make payment. A previous settlement attempt, recorded in an order dated 19.11.2024, did not materialize, leading to the revival of the petition.
Stove Kraft Ltd. (Operational Creditor) filed an application under Section 9 of IBC, 2016 against Pathways Retail Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP).
The Corporate Debtor failed to pay an operational debt of Rs. 5,87,90,837/- along with interest @18% per annum from 03.01.2024 (INR 52,91,175/-).
A Supply Agreement was entered into on 09.09.2022 by and between Corporate Debtor and the Operational Creditor, with a payment term of 21 days from the invoice date.
Under the Supply Agreement, invoices exceeding INR 15 Crores were raised, with the petition specifically relating to invoices totaling INR 6,80,34,066/-.
…Sign in to view the parties.
A Supply Agreement was entered into between…
Multiple Purchase Orders (PO23510153,…
Stove Kraft Ltd. (Operational Creditor) initiated CIRP against Pathways Retail Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, for an unpaid operational debt of Rs. 5,87,90,837/- plus 18% interest from 03.01.2024. The debt arose from a supply agreement for kitchen appliances, with invoices totaling over Rs. 6.8 Crores. After adjustments, Rs. 6,37,12,107/- remained due. A legal notice and a demand notice were served, but the Corporate Debtor failed to respond or make payment. A previous settlement attempt, recorded in an order dated 19.11.2024, did not materialize, leading to the revival of the petition.
Stove Kraft Ltd. (Operational Creditor) filed an application under Section 9 of IBC, 2016 against Pathways Retail Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP).
The Corporate Debtor failed to pay an operational debt of Rs. 5,87,90,837/- along with interest @18% per annum from 03.01.2024 (INR 52,91,175/-).
A Supply Agreement was entered into on 09.09.2022 by and between Corporate Debtor and the Operational Creditor, with a payment term of 21 days from the invoice date.
Under the Supply Agreement, invoices exceeding INR 15 Crores were raised, with the petition specifically relating to invoices totaling INR 6,80,34,066/-.
…A Supply Agreement was entered into between…
Multiple Purchase Orders (PO23510153,…