Adecco India Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aventura Components Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for human resources services provided as per an agreement dated 24.02.2015. The corporate debtor admitted to the outstanding debt but cited financial distress due to the Coronavirus pandemic as the reason for non-payment.
Adecco India Pvt. Ltd. (Operational Creditor) provided human resources services to Aventura Components Private Limited (Corporate Debtor) under an agreement dated 24.02.2015, effective from 01.02.2015. The Corporate Debtor defaulted on payments for these services from 28.09.2018 to 29.03.2019, with an outstanding amount of Rs. 2,983,870.95, excluding interest. The Operational Creditor sent demand notices on 27.08.2019, seeking payment of Rs. 31,50,337.42. The Corporate Debtor acknowledged the debt in its reply dated 11.09.2019 but cited financial distress due to the Coronavirus pandemic as the reason for non-payment. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of CIRP. The Corporate Debtor
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Agreement between Adecco India Pvt. Ltd. and…
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Adecco India Pvt. Ltd., the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aventura Components Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor defaulted in making payments for human resources services provided as per an agreement dated 24.02.2015. The corporate debtor admitted to the outstanding debt but cited financial distress due to the Coronavirus pandemic as the reason for non-payment.
Adecco India Pvt. Ltd. (Operational Creditor) provided human resources services to Aventura Components Private Limited (Corporate Debtor) under an agreement dated 24.02.2015, effective from 01.02.2015. The Corporate Debtor defaulted on payments for these services from 28.09.2018 to 29.03.2019, with an outstanding amount of Rs. 2,983,870.95, excluding interest. The Operational Creditor sent demand notices on 27.08.2019, seeking payment of Rs. 31,50,337.42. The Corporate Debtor acknowledged the debt in its reply dated 11.09.2019 but cited financial distress due to the Coronavirus pandemic as the reason for non-payment. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of CIRP. The Corporate Debtor
…Agreement between Adecco India Pvt. Ltd. and…
Start date of the period during which the…