Instriker Online Solutions Private Limited filed a company petition under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Aqua Infotech Private Limited. The petition alleges that Aqua Infotech defaulted on a payment of Rs. 10,53,068/-, comprising Rs. 9,50,000/- principal and Rs. 1,03,068/- interest, related to a software development agreement. The petitioner and corporate debtor entered into a software development agreement dated 12.08.2019. The corporate debtor placed a purchase order dated 13.08.2018.
Instriker Online Solutions Private Limited (Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Aqua Infotech Private Limited (Corporate Debtor) due to a default in payment. The Corporate Debtor allegedly defaulted on a payment of Rs. 10,53,068/-, which includes a principal amount of Rs. 9,50,000/- and interest of Rs. 1,03,068/-. The default arises from a software development agreement between the Petitioner and the Corporate Debtor. The Petitioner developed and delivered software and raised an invoice for Rs. 9,50,000/- on 10.10.2018, which included an interest clause of 18% p.a. on delayed payments. The Petitioner issued a demand notice on 26.06.2019, but the Corporate Debtor failed to respond. The Corporate Debtor, in a
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Corporate Debtor placed a purchase order with…
Instriker Online Solutions Private Limited filed a company petition under Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Aqua Infotech Private Limited. The petition alleges that Aqua Infotech defaulted on a payment of Rs. 10,53,068/-, comprising Rs. 9,50,000/- principal and Rs. 1,03,068/- interest, related to a software development agreement. The petitioner and corporate debtor entered into a software development agreement dated 12.08.2019. The corporate debtor placed a purchase order dated 13.08.2018.
Instriker Online Solutions Private Limited (Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Aqua Infotech Private Limited (Corporate Debtor) due to a default in payment. The Corporate Debtor allegedly defaulted on a payment of Rs. 10,53,068/-, which includes a principal amount of Rs. 9,50,000/- and interest of Rs. 1,03,068/-. The default arises from a software development agreement between the Petitioner and the Corporate Debtor. The Petitioner developed and delivered software and raised an invoice for Rs. 9,50,000/- on 10.10.2018, which included an interest clause of 18% p.a. on delayed payments. The Petitioner issued a demand notice on 26.06.2019, but the Corporate Debtor failed to respond. The Corporate Debtor, in a
…Petitioner and…
Corporate Debtor placed a purchase order with…