Manish Grover, the applicant and proprietor of Ayan Media Solutions, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process (CIRP) against A & V Fashion Private Limited, the respondent. The application was based on the respondent's alleged default in clearing a debt of Rs. 8,36,275/-, including interest, owed to the applicant for outdoor advertising services provided. The applicant had extended out-of-home advertisement services to the respondent, displaying the Savarnika brand campaign on DMRC Line 3 metro pillars for five months, from 2017-06-04 to 2017-11-03, at an agreed rate. After completion of the campaign, the applicant raised invoices and sent them for payment, but
…Manish Grover, proprietor of Ayan Media Solutions, provided outdoor advertising services to A & V Fashion Private Limited, displaying the Savarnika brand campaign on DMRC Line 3 metro pillars from 2017-06-04 to 2017-11-03. After the campaign, invoices were raised for Rs. 7,31,400/-, but no payments were received. Despite several emails and visits, the respondent failed to make the payment. A demand notice under Section 8 of the Insolvency and Bankruptcy Code was issued on 2019-04-06, but no reply or payment was received. Consequently, Manish Grover filed an application under Section 9 of the IBC to initiate CIRP against A & V Fashion Private Limited for a total debt of Rs. 8,36,275/-, including interest. The respondent did not make any representation, and was
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Savarnika brand…
Savarnika brand…
Manish Grover, the applicant and proprietor of Ayan Media Solutions, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process (CIRP) against A & V Fashion Private Limited, the respondent. The application was based on the respondent's alleged default in clearing a debt of Rs. 8,36,275/-, including interest, owed to the applicant for outdoor advertising services provided. The applicant had extended out-of-home advertisement services to the respondent, displaying the Savarnika brand campaign on DMRC Line 3 metro pillars for five months, from 2017-06-04 to 2017-11-03, at an agreed rate. After completion of the campaign, the applicant raised invoices and sent them for payment, but
…Manish Grover, proprietor of Ayan Media Solutions, provided outdoor advertising services to A & V Fashion Private Limited, displaying the Savarnika brand campaign on DMRC Line 3 metro pillars from 2017-06-04 to 2017-11-03. After the campaign, invoices were raised for Rs. 7,31,400/-, but no payments were received. Despite several emails and visits, the respondent failed to make the payment. A demand notice under Section 8 of the Insolvency and Bankruptcy Code was issued on 2019-04-06, but no reply or payment was received. Consequently, Manish Grover filed an application under Section 9 of the IBC to initiate CIRP against A & V Fashion Private Limited for a total debt of Rs. 8,36,275/-, including interest. The respondent did not make any representation, and was
…Savarnika brand…
Savarnika brand…