A.H.A. International Co. Ltd. (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against Multisapphire Trading LLP (Corporate Debtor). The petition arose from a default in payment of an operational debt amounting to USD 3,11,520 (equivalent to Rs.2,61,86,371/-) including interest, for the supply of goods (Monosodium Glutamate). The sales contract was dated 12.07.2023, and payment, due on 01.11.2023, was not made. The Operational Creditor sent email reminders, a legal notice, and a demand notice, to which the Corporate Debtor admitted receipt of goods but failed to pay or raise any pre-existing dispute.

A.H.A. International Co. Ltd. (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against Multisapphire Trading LLP (Corporate Debtor). The petition arose from a default in payment of an operational debt amounting to USD 3,11,520 (equivalent to Rs.2,61,86,371/-) including interest, for the supply of goods (Monosodium Glutamate). The sales contract was dated 12.07.2023, and payment, due on 01.11.2023, was not made. The Operational Creditor sent email reminders, a legal notice, and a demand notice, to which the Corporate Debtor admitted receipt of goods but failed to pay or raise any pre-existing dispute.