The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) against an order dated 17.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi). The Adjudicating Authority admitted an application filed under Section 9 of the IBC by the Operational Creditor, EE Limited, and initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Falcon Business Resources Private Limited. The suspended Director of the Corporate Debtor preferred the appeal. The Corporate Debtor entered into an EE Framework Reseller Agreement with EE Limited, where EE Limited was to provide SIM cards to the Corporate Debtor for reselling to Indian clients traveling to the U.K. Disputes arose regarding billing
…Falcon Business Resources Private Limited (Corporate Debtor) entered into an EE Framework Reseller Agreement with EE Limited (Operational Creditor) on 2015-03-20. EE Limited was to provide SIM cards to Falcon Business Resources for reselling to Indian clients traveling to the U.K. The agreement stipulated a minimum spend commitment of GBP 4,50,000 over two years and required EE Limited to maintain 7000 accounts. The Corporate Debtor raised complaints about non-working SIM cards and inflated invoices. The Corporate Debtor sent an email to the Operational Creditor on 2015-07-07 stating that they could not use the EE Sim Cards for 3 months. The Corporate Debtor exchanged Call Details Records (CDR) with the Operational Creditor to substantiate wrong charging of tariffs and
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Falcon Business Resources Private Limited…
Corporate Debtor sent an email to the…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) against an order dated 17.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi). The Adjudicating Authority admitted an application filed under Section 9 of the IBC by the Operational Creditor, EE Limited, and initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Falcon Business Resources Private Limited. The suspended Director of the Corporate Debtor preferred the appeal. The Corporate Debtor entered into an EE Framework Reseller Agreement with EE Limited, where EE Limited was to provide SIM cards to the Corporate Debtor for reselling to Indian clients traveling to the U.K. Disputes arose regarding billing
…Falcon Business Resources Private Limited (Corporate Debtor) entered into an EE Framework Reseller Agreement with EE Limited (Operational Creditor) on 2015-03-20. EE Limited was to provide SIM cards to Falcon Business Resources for reselling to Indian clients traveling to the U.K. The agreement stipulated a minimum spend commitment of GBP 4,50,000 over two years and required EE Limited to maintain 7000 accounts. The Corporate Debtor raised complaints about non-working SIM cards and inflated invoices. The Corporate Debtor sent an email to the Operational Creditor on 2015-07-07 stating that they could not use the EE Sim Cards for 3 months. The Corporate Debtor exchanged Call Details Records (CDR) with the Operational Creditor to substantiate wrong charging of tariffs and
…Falcon Business Resources Private Limited…
Corporate Debtor sent an email to the…