The Appellant, an Operational Creditor, initiated CIRP against the Corporate Debtor, M/s. RD Buildtech & Developers (Karnataka) Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant and Corporate Debtor had a Service Agreement from 01.05.2019, but disputes arose regarding the nature of services and delayed payments. The Appellant issued a demand notice (FORM 3) on 27.01.2020, following Section 8 of the IBC, which was served to the developer. The initial application under Section 9 was registered as CP(IB) No.180/BB/2020 but was rejected on 15.04.2021, with the Adjudicating Authority directing the parties to settle within one month. The Appellant then filed CP(IB) No.95/BB/2023, which was also rejected on 31.10.2023, because the claim
…M/s. Whitehand Services, an Operational Creditor, filed a Company Appeal against M/s. RD Buildtech & Developers (Karnataka) Pvt. Ltd., the Corporate Debtor. The dispute arose from a Service Agreement dated 01.05.2019. The Operational Creditor claimed Rs.22,53,949/- was due from 01.04.2019. A demand notice (FORM 3) was issued on 27.01.2020. A second notice was issued on 30.12.2022, claiming Rs.40,19,099/- inclusive of interest from 15.04.2021. The initial application under Section 9 was rejected on 15.04.2021. A second company petition, CP(IB) No.95/BB/2023, was rejected on 31.10.2023, due to the claim being less than Rs.1 Crore as per the amended Section 4 of the IBC. The Impugned Judgment was dated 31.10.2023 and uploaded on 09.11.2023. The Appellant received a
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Appellant and Corporate…
Appellant issued a…
The Appellant, an Operational Creditor, initiated CIRP against the Corporate Debtor, M/s. RD Buildtech & Developers (Karnataka) Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant and Corporate Debtor had a Service Agreement from 01.05.2019, but disputes arose regarding the nature of services and delayed payments. The Appellant issued a demand notice (FORM 3) on 27.01.2020, following Section 8 of the IBC, which was served to the developer. The initial application under Section 9 was registered as CP(IB) No.180/BB/2020 but was rejected on 15.04.2021, with the Adjudicating Authority directing the parties to settle within one month. The Appellant then filed CP(IB) No.95/BB/2023, which was also rejected on 31.10.2023, because the claim
…M/s. Whitehand Services, an Operational Creditor, filed a Company Appeal against M/s. RD Buildtech & Developers (Karnataka) Pvt. Ltd., the Corporate Debtor. The dispute arose from a Service Agreement dated 01.05.2019. The Operational Creditor claimed Rs.22,53,949/- was due from 01.04.2019. A demand notice (FORM 3) was issued on 27.01.2020. A second notice was issued on 30.12.2022, claiming Rs.40,19,099/- inclusive of interest from 15.04.2021. The initial application under Section 9 was rejected on 15.04.2021. A second company petition, CP(IB) No.95/BB/2023, was rejected on 31.10.2023, due to the claim being less than Rs.1 Crore as per the amended Section 4 of the IBC. The Impugned Judgment was dated 31.10.2023 and uploaded on 09.11.2023. The Appellant received a
…Appellant and Corporate…
Appellant issued a…