The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Mr. Anuj Kumar Tiwari, an operational creditor, against Adharshila Country Homes Private Limited, the corporate debtor. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid operational debt arising from a brokerage agreement. The corporate debtor failed to pay the outstanding dues despite repeated requests and a legal notice.
Mr. Anuj Kumar Tiwari, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Adharshila Country Homes Private Limited, the corporate debtor. The applicant and the corporate debtor entered into a brokerage agreement dated 09.08.2017, where the corporate debtor agreed to share profits earned from leads provided by the applicant on a 50% ratio and pay a minimum of Rs. 3,60,000 per annum. The applicant provided a lead that resulted in earnings of Rs. 40,500 for the corporate debtor, of which Rs. 20,250 was paid to the applicant. The corporate debtor failed to renew the agreement and an amount of Rs. 3,60,000 became due to the applicant, after deducting the Rs. 20,250 already paid. The applicant issued a legal
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Adharshila Country Homes Private Limited entered…
The operational…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Mr. Anuj Kumar Tiwari, an operational creditor, against Adharshila Country Homes Private Limited, the corporate debtor. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid operational debt arising from a brokerage agreement. The corporate debtor failed to pay the outstanding dues despite repeated requests and a legal notice.
Mr. Anuj Kumar Tiwari, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Adharshila Country Homes Private Limited, the corporate debtor. The applicant and the corporate debtor entered into a brokerage agreement dated 09.08.2017, where the corporate debtor agreed to share profits earned from leads provided by the applicant on a 50% ratio and pay a minimum of Rs. 3,60,000 per annum. The applicant provided a lead that resulted in earnings of Rs. 40,500 for the corporate debtor, of which Rs. 20,250 was paid to the applicant. The corporate debtor failed to renew the agreement and an amount of Rs. 3,60,000 became due to the applicant, after deducting the Rs. 20,250 already paid. The applicant issued a legal
…Adharshila Country Homes Private Limited entered…
The operational…