The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Pitti & Co., a Chartered Accountant firm (Operational Creditor), against Berhampur Finance & Leasing Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding debt of Rs. 2,00,000 for professional services rendered to the Corporate Debtor since April 2016. Despite repeated attempts and a demand notice issued on April 30, 2018, the Corporate Debtor failed to pay the debt. The Operational Creditor produced bank statements showing no payment received.
Pitti & Co., a Chartered Accountant firm, provided consultancy services to Berhampur Finance & Leasing Private Limited since April 2016. The Corporate Debtor allegedly owed Rs. 2,00,000 to the Operational Creditor for these services. The Operational Creditor raised bills and issued a demand notice on April 30, 2018, under Section 8 of the Insolvency and Bankruptcy Code, 2016, which was delivered by hand. The Corporate Debtor did not reply to the notice or raise any dispute. The Corporate Debtor filed a reply affidavit admitting the claim and acknowledging the default in payment due to financial difficulties. The Operational Creditor produced bank statements showing no payment received from the Corporate Debtor. The application was filed under Section 9 of the
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Pitti & Co. started providing consultancy…
Operational Creditor issued a demand notice to…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Pitti & Co., a Chartered Accountant firm (Operational Creditor), against Berhampur Finance & Leasing Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding debt of Rs. 2,00,000 for professional services rendered to the Corporate Debtor since April 2016. Despite repeated attempts and a demand notice issued on April 30, 2018, the Corporate Debtor failed to pay the debt. The Operational Creditor produced bank statements showing no payment received.
Pitti & Co., a Chartered Accountant firm, provided consultancy services to Berhampur Finance & Leasing Private Limited since April 2016. The Corporate Debtor allegedly owed Rs. 2,00,000 to the Operational Creditor for these services. The Operational Creditor raised bills and issued a demand notice on April 30, 2018, under Section 8 of the Insolvency and Bankruptcy Code, 2016, which was delivered by hand. The Corporate Debtor did not reply to the notice or raise any dispute. The Corporate Debtor filed a reply affidavit admitting the claim and acknowledging the default in payment due to financial difficulties. The Operational Creditor produced bank statements showing no payment received from the Corporate Debtor. The application was filed under Section 9 of the
…Pitti & Co. started providing consultancy…
Operational Creditor issued a demand notice to…