TV 18 Broadcast Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Amrapali Media Vision Private Limited, the corporate debtor, claiming to be an operational creditor. TV 18 provided advertising services to Amrapali Media Vision by airing their campaigns on CNN-IBN & IBN7. As consideration, Amrapali Media Vision agreed to pay in part and in cash and allot immovable property as a barter arrangement. However, Amrapali Media Vision failed to make the agreed payment or deliver the property, leading TV 18 to initiate the Insolvency Resolution Process.
TV 18 Broadcast Limited provided advertising services to Amrapali Media Vision Private Limited by airing advertising campaigns on its channels, CNN-IBN & IBN7. In return, Amrapali Media Vision agreed to pay in part and in cash and allot immovable property as a barter arrangement. Amrapali Media Vision failed to make the agreed payment or deliver the property. TV 18 Broadcast Limited filed a petition under Section 9 of the IBC, 2016, claiming to be an operational creditor. The outstanding liability was Rs. 8,74,50,296/-, part of a total outstanding liability of Rs. 11,95,68,947/-. Amrapali Media Vision issued seven post-dated cheques amounting to Rs. 33,14,618/-, which were not deposited by TV 18 on the instances of drawer not to do so. TV 18 sent a demand notice
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TV 18 Broadcast Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Amrapali Media Vision Private Limited, the corporate debtor, claiming to be an operational creditor. TV 18 provided advertising services to Amrapali Media Vision by airing their campaigns on CNN-IBN & IBN7. As consideration, Amrapali Media Vision agreed to pay in part and in cash and allot immovable property as a barter arrangement. However, Amrapali Media Vision failed to make the agreed payment or deliver the property, leading TV 18 to initiate the Insolvency Resolution Process.
TV 18 Broadcast Limited provided advertising services to Amrapali Media Vision Private Limited by airing advertising campaigns on its channels, CNN-IBN & IBN7. In return, Amrapali Media Vision agreed to pay in part and in cash and allot immovable property as a barter arrangement. Amrapali Media Vision failed to make the agreed payment or deliver the property. TV 18 Broadcast Limited filed a petition under Section 9 of the IBC, 2016, claiming to be an operational creditor. The outstanding liability was Rs. 8,74,50,296/-, part of a total outstanding liability of Rs. 11,95,68,947/-. Amrapali Media Vision issued seven post-dated cheques amounting to Rs. 33,14,618/-, which were not deposited by TV 18 on the instances of drawer not to do so. TV 18 sent a demand notice
…Copies of invoices and delivery receipts from…
Copies of invoices and delivery receipts from…