https://www.taxtmi.com/highlights?id=58009 Initiation of CIRP - The nature of goods being perishable commodity, slightest delay shall cause huge loss. - The 'debt' as claimed by Operational Creditor is towards carton boxes and other packing material supplied by Operational Creditor along with purchase orders of the year 2016-2017. The packing materials are also perishable. Further, the onus of, who has to take back the unused materials, whether the same is adjusted towards payment are not clear. - The applicant has failed to quantify the alleged 'debt' and the 'date of default'. Neither "debt" nor "default" is proved - Tri en-us Tue, 18 May 2021 12:40:33 +0530 Tue, 18 May 2021 12:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58009 Initiation of CIRP - The nature of goods being perishable commodity, slightest delay shall cause huge loss. - The 'debt' as claimed by Operational Creditor is towards carton boxes and other packing material supplied by Operational Creditor along with purchase orders of the year 2016-2017. The packing materials are also perishable. Further, the onus of, who has to take back the unused materials, whether the same is adjusted towards payment are not clear. - The applicant has failed to quantify the alleged 'debt' and the 'date of default'. Neither "debt" nor "default" is proved - Tri Highlights Insolvency and Bankruptcy Tue, 18 May 2021 12:40:33 +0530 https://www.taxtmi.com/highlights?id=58009