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, which admitted an application under Section 9 of the IBC filed by the Operational Creditor (EE Limited) against the Corporate Debtor (Falcon Business Resources Pvt Ltd). The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The appeal was preferred by the suspended Director of the Corporate Debtor.
Falcon Business Resources Pvt Ltd (Corporate Debtor) entered into a Framework Reseller Agreement with EE Limited (Operational Creditor) on 20.03.2015. EE Limited was to provide SIM cards to Falcon Business Resources for reselling to Indian clients traveling to the UK. 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 concerns about the SIM cards not being connected to the network and being unusable. The Corporate Debtor regularly exchanged Call Details Records (CDR) with the Operational Creditor to substantiate wrong tariff charges and claimed credits. The Corporate Debtor claimed that EE Limited submitted wrong and inflated invoices, and billing
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Falcon Business Resources Pvt Ltd entered into…
EE Limited disconnected…
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, which admitted an application under Section 9 of the IBC filed by the Operational Creditor (EE Limited) against the Corporate Debtor (Falcon Business Resources Pvt Ltd). The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The appeal was preferred by the suspended Director of the Corporate Debtor.
Falcon Business Resources Pvt Ltd (Corporate Debtor) entered into a Framework Reseller Agreement with EE Limited (Operational Creditor) on 20.03.2015. EE Limited was to provide SIM cards to Falcon Business Resources for reselling to Indian clients traveling to the UK. 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 concerns about the SIM cards not being connected to the network and being unusable. The Corporate Debtor regularly exchanged Call Details Records (CDR) with the Operational Creditor to substantiate wrong tariff charges and claimed credits. The Corporate Debtor claimed that EE Limited submitted wrong and inflated invoices, and billing
…Falcon Business Resources Pvt Ltd entered into…
EE Limited disconnected…