This appeal arises from an order passed by the Adjudicating Authority/National Company Law Tribunal, Bengaluru Bench, Bengaluru, admitting an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Flipkart India Private Limited, under Section 9 of the Insolvency and Bankruptcy Code (I&B Code). The application was filed by Cloudwalker Streaming Technologies Pvt. Ltd., an operational creditor, based on an alleged default of Rs. 26,95,00,000/-. The operational creditor claimed that Flipkart contacted them to sell LED TVs, and they entered into a supply agreement. The operational creditor imported and supplied LED TVs, but Flipkart allegedly delayed taking delivery, leading to excess custom duties and pressure
…Cloudwalker Streaming Technologies Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Flipkart India Private Limited (Corporate Debtor) for a default of Rs. 26,95,00,000. The Operational Creditor and Corporate Debtor entered into a Supply Agreement dated 29th December 2016, under which the Operational Creditor was to supply LED TVs to the Corporate Debtor. The Corporate Debtor would place purchase orders through emails, which were acknowledged by the Operational Creditor. The Operational Creditor imported and procured the required quantities of LED TVs and delivered them to the Corporate Debtor. The Corporate Debtor received delivery of the first few batches of LED TVs under purchase orders dated
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Cloudwalker Streaming Technologies Pvt. Ltd.…
Flipkart received delivery of the first few…
This appeal arises from an order passed by the Adjudicating Authority/National Company Law Tribunal, Bengaluru Bench, Bengaluru, admitting an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Flipkart India Private Limited, under Section 9 of the Insolvency and Bankruptcy Code (I&B Code). The application was filed by Cloudwalker Streaming Technologies Pvt. Ltd., an operational creditor, based on an alleged default of Rs. 26,95,00,000/-. The operational creditor claimed that Flipkart contacted them to sell LED TVs, and they entered into a supply agreement. The operational creditor imported and supplied LED TVs, but Flipkart allegedly delayed taking delivery, leading to excess custom duties and pressure
…Cloudwalker Streaming Technologies Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Flipkart India Private Limited (Corporate Debtor) for a default of Rs. 26,95,00,000. The Operational Creditor and Corporate Debtor entered into a Supply Agreement dated 29th December 2016, under which the Operational Creditor was to supply LED TVs to the Corporate Debtor. The Corporate Debtor would place purchase orders through emails, which were acknowledged by the Operational Creditor. The Operational Creditor imported and procured the required quantities of LED TVs and delivered them to the Corporate Debtor. The Corporate Debtor received delivery of the first few batches of LED TVs under purchase orders dated
…Cloudwalker Streaming Technologies Pvt. Ltd.…
Flipkart received delivery of the first few…