The case involves an appeal against the rejection of an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by the Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi. The appellant, an operational creditor, filed the application, which was rejected by an order dated 3rd November, 2017. The dispute arose from a disagreement over the quality of services provided by the appellant to the respondent, the 'Corporate Debtor'.
Explo Media Pvt. Ltd. (Appellant/Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was rejected by the Adjudicating Authority (National Company Law Tribunal). The dispute arose because Ambience Pvt. Ltd. (Respondent/Corporate Debtor) disputed the quality of services rendered by Explo Media. Explo Media issued an advocate notice on March 6, 2017, under Section 434(1)(a) of the Companies Act, 1956, demanding Rs.61,85,400/- plus 18% interest and Rs.25,000/- for legal fees. Ambience Pvt. Ltd. responded on March 11, 2017, claiming that Explo Media misled them regarding the outdoor advertising campaign, failed to provide agreed sites, and did not rectify electrical problems or provide updates. The Respondent had
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The Appellant (Operational Creditor) issued an…
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The case involves an appeal against the rejection of an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by the Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi. The appellant, an operational creditor, filed the application, which was rejected by an order dated 3rd November, 2017. The dispute arose from a disagreement over the quality of services provided by the appellant to the respondent, the 'Corporate Debtor'.
Explo Media Pvt. Ltd. (Appellant/Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was rejected by the Adjudicating Authority (National Company Law Tribunal). The dispute arose because Ambience Pvt. Ltd. (Respondent/Corporate Debtor) disputed the quality of services rendered by Explo Media. Explo Media issued an advocate notice on March 6, 2017, under Section 434(1)(a) of the Companies Act, 1956, demanding Rs.61,85,400/- plus 18% interest and Rs.25,000/- for legal fees. Ambience Pvt. Ltd. responded on March 11, 2017, claiming that Explo Media misled them regarding the outdoor advertising campaign, failed to provide agreed sites, and did not rectify electrical problems or provide updates. The Respondent had
…The Appellant (Operational Creditor) issued an…
The Respondent (Corporate Debtor) replied to…