The appeal challenges an order dated 2023-06-06, dismissing an application filed by the Appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was dismissed because it did not meet the threshold of Rs. 1 crore as required by Section 4 of the Code. The Appellant had filed the application on 2020-08-18 for Rs. 2,77,68,000, allegedly due from the Corporate Debtor (CD). The Appellant claimed the date of default was 2019-01-24, based on an invoice raised as per a Memorandum of Understanding (MOU)/Agreement. The Appellant alleged that the director of the CD met with the director of the OC (Operational Creditor) to discuss technologies and seek help in spreading sustainable technologies. It was proposed that the OC/Appellant's director would
…Spik Enviro Management Pvt. Ltd. (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vision Earthcare Pvt. Ltd. (Respondent/Corporate Debtor) for an alleged default of Rs. 2,77,68,000. The Appellant claimed the default date was 2019-01-24, based on an invoice raised as per a Memorandum of Understanding (MOU)/Agreement. The Appellant alleged that the director of the CD met with the director of the OC to discuss technologies and seek help in spreading sustainable technologies. An MOU was entered on 2018-06-15, where the OC agreed to facilitate projects for the CD, with a facilitation fee of Rs. 2.5 lakhs per MLD. The CD and the Appellant's director entered an agreement on 2018-11-25, appointing the director as a wholetime
…Sign in to view the parties.
Order dismissing the application filed by the…
Appellant filed application under Section…
The appeal challenges an order dated 2023-06-06, dismissing an application filed by the Appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was dismissed because it did not meet the threshold of Rs. 1 crore as required by Section 4 of the Code. The Appellant had filed the application on 2020-08-18 for Rs. 2,77,68,000, allegedly due from the Corporate Debtor (CD). The Appellant claimed the date of default was 2019-01-24, based on an invoice raised as per a Memorandum of Understanding (MOU)/Agreement. The Appellant alleged that the director of the CD met with the director of the OC (Operational Creditor) to discuss technologies and seek help in spreading sustainable technologies. It was proposed that the OC/Appellant's director would
…Spik Enviro Management Pvt. Ltd. (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vision Earthcare Pvt. Ltd. (Respondent/Corporate Debtor) for an alleged default of Rs. 2,77,68,000. The Appellant claimed the default date was 2019-01-24, based on an invoice raised as per a Memorandum of Understanding (MOU)/Agreement. The Appellant alleged that the director of the CD met with the director of the OC to discuss technologies and seek help in spreading sustainable technologies. An MOU was entered on 2018-06-15, where the OC agreed to facilitate projects for the CD, with a facilitation fee of Rs. 2.5 lakhs per MLD. The CD and the Appellant's director entered an agreement on 2018-11-25, appointing the director as a wholetime
…Order dismissing the application filed by the…
Appellant filed application under Section…