The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 by Adbridge Communications India (P) Ltd, the Operational Creditor, against Automobiles Sterlind (India) Pvt. Ltd, the Corporate Debtor, due to a default in payment for services rendered. The Operational Creditor claimed an amount of Rs. 8,12,536/- along with interest, aggregating to Rs. 10,39,871/-, arising from purchase orders placed by the Corporate Debtor for 'space in Print Media'. Despite a partial payment of Rs. 200,000/-, the Corporate Debtor failed to pay the balance amount, leading the Operational Creditor to issue a demand notice under Section 8 of the IBC, 2016. The Corporate Debtor acknowledged the principal amount due but disputed the interest
…Abridge Communications India (P) Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Automobiles Sterlind (India) Pvt. Ltd (Corporate Debtor) due to non-payment of dues. The debt arose from purchase orders placed by the Corporate Debtor for 'space in Print Media'. The total claim was Rs. 10,39,871/-, including a principal amount of Rs. 8,12,536/- and interest of Rs. 2,27,335/-. The debt was stated to have fallen due on 2018-03-16. A partial payment of Rs. 200,000/- was made, but the balance remained unpaid. The Operational Creditor sent a demand notice on 2019-04-10 under Section 8 of the IBC, 2016. The Corporate Debtor responded on 2019-04-15, acknowledging the principal amount but disputing the
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The debt of Rs.…
The Operational Creditor sent a demand notice…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 by Adbridge Communications India (P) Ltd, the Operational Creditor, against Automobiles Sterlind (India) Pvt. Ltd, the Corporate Debtor, due to a default in payment for services rendered. The Operational Creditor claimed an amount of Rs. 8,12,536/- along with interest, aggregating to Rs. 10,39,871/-, arising from purchase orders placed by the Corporate Debtor for 'space in Print Media'. Despite a partial payment of Rs. 200,000/-, the Corporate Debtor failed to pay the balance amount, leading the Operational Creditor to issue a demand notice under Section 8 of the IBC, 2016. The Corporate Debtor acknowledged the principal amount due but disputed the interest
…Abridge Communications India (P) Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Automobiles Sterlind (India) Pvt. Ltd (Corporate Debtor) due to non-payment of dues. The debt arose from purchase orders placed by the Corporate Debtor for 'space in Print Media'. The total claim was Rs. 10,39,871/-, including a principal amount of Rs. 8,12,536/- and interest of Rs. 2,27,335/-. The debt was stated to have fallen due on 2018-03-16. A partial payment of Rs. 200,000/- was made, but the balance remained unpaid. The Operational Creditor sent a demand notice on 2019-04-10 under Section 8 of the IBC, 2016. The Corporate Debtor responded on 2019-04-15, acknowledging the principal amount but disputing the
…The debt of Rs.…
The Operational Creditor sent a demand notice…