The petition was filed by M/s ASAP Info Systems Private Limited, seeking corporate insolvency resolution process in respect of M/s Business Arts India Private Limited, styled as the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code 2016. The operational creditor and corporate debtor entered into an Agency Agreement on 22-04-2016, wherein the operational creditor agreed to provide the services of its employees to the corporate debtor. The corporate debtor agreed to pay invoiced amounts within 60 days after the last day of the month. The operational creditor raised invoices of an aggregate value of Rs.75,80,161/-. The corporate debtor failed to make payment towards the invoices.
M/s ASAP Info Systems Private Limited (operational creditor) filed a petition against M/s Business Arts India Private Limited (corporate debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor and corporate debtor entered into an Agency Agreement on 22-04-2016, where the operational creditor would provide employee services to the corporate debtor, and the corporate debtor would pay invoices within 60 days. The operational creditor raised invoices totaling Rs.75,80,161/-, but the corporate debtor failed to pay from May 2016 to May 2017. A demand notice was issued on 29-08-2017. The corporate debtor did not appear for the hearing. The operational creditor filed copies of the agency agreement, invoices, emails, board resolution,
…Sign in to view the parties.
Operational creditor…
Corporate debtor failed…
The petition was filed by M/s ASAP Info Systems Private Limited, seeking corporate insolvency resolution process in respect of M/s Business Arts India Private Limited, styled as the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code 2016. The operational creditor and corporate debtor entered into an Agency Agreement on 22-04-2016, wherein the operational creditor agreed to provide the services of its employees to the corporate debtor. The corporate debtor agreed to pay invoiced amounts within 60 days after the last day of the month. The operational creditor raised invoices of an aggregate value of Rs.75,80,161/-. The corporate debtor failed to make payment towards the invoices.
M/s ASAP Info Systems Private Limited (operational creditor) filed a petition against M/s Business Arts India Private Limited (corporate debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor and corporate debtor entered into an Agency Agreement on 22-04-2016, where the operational creditor would provide employee services to the corporate debtor, and the corporate debtor would pay invoices within 60 days. The operational creditor raised invoices totaling Rs.75,80,161/-, but the corporate debtor failed to pay from May 2016 to May 2017. A demand notice was issued on 29-08-2017. The corporate debtor did not appear for the hearing. The operational creditor filed copies of the agency agreement, invoices, emails, board resolution,
…Operational creditor…
Corporate debtor failed…