The case involves an application filed by F1 Info Solutions & Services Pvt. Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) due to failure to pay outstanding dues. F1 Info Solutions provided services to Appsdaily Solutions, primarily involving the servicing and repairing of mobile handsets. A business arrangement was in place where F1 Info Solutions would service handsets covered by insurance policies sold by Appsdaily Solutions. Appsdaily Solutions made payments until March 2015, after which payments became irregular, leading to outstanding invoices and short payments.
F1 Info Solutions & Services Pvt. Ltd. (Operational Creditor) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) for failure to pay outstanding dues. F1 Info Solutions was incorporated under the Companies Act, 1956. Appsdaily Solutions is involved in manufacturing and marketing mobile phones and applications. The total debt claimed was ₹1,00,11,945/-, including unpaid invoices of ₹81,18,164 and short payments of ₹18,93,781, along with interest at 24% per annum. The debt fell due from April 2015. F1 Info Solutions provided services to Appsdaily Solutions, servicing multi-brand mobile handsets. In 2014, Appsdaily Solutions engaged F1 Info Solutions to service handsets covered
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The case involves an application filed by F1 Info Solutions & Services Pvt. Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) due to failure to pay outstanding dues. F1 Info Solutions provided services to Appsdaily Solutions, primarily involving the servicing and repairing of mobile handsets. A business arrangement was in place where F1 Info Solutions would service handsets covered by insurance policies sold by Appsdaily Solutions. Appsdaily Solutions made payments until March 2015, after which payments became irregular, leading to outstanding invoices and short payments.
F1 Info Solutions & Services Pvt. Ltd. (Operational Creditor) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against Appsdaily Solutions Private Limited (Corporate Debtor) for failure to pay outstanding dues. F1 Info Solutions was incorporated under the Companies Act, 1956. Appsdaily Solutions is involved in manufacturing and marketing mobile phones and applications. The total debt claimed was ₹1,00,11,945/-, including unpaid invoices of ₹81,18,164 and short payments of ₹18,93,781, along with interest at 24% per annum. The debt fell due from April 2015. F1 Info Solutions provided services to Appsdaily Solutions, servicing multi-brand mobile handsets. In 2014, Appsdaily Solutions engaged F1 Info Solutions to service handsets covered
…The date from which the…
Demand notice issued by…