The case involves an application filed by M/s Jones Lang Lasalle Building Operations Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s City Mart Maintenance Services Private Limited, the corporate debtor, due to an alleged default in payment of Rs. 28,33,240/-. The applicant provided property management services to the respondent based on agreements executed between them.
M/s Jones Lang Lasalle Building Operations Private Limited (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s City Mart Maintenance Services Private Limited (the Respondent). The Applicant claimed that the Respondent defaulted on payments amounting to Rs. 28,33,240/- for property management services provided under agreements executed between 2013 and 2019. The Applicant submitted that they provided services as per the agreements, raised invoices, and the last payment received was on 02.07.2018. A statutory demand notice was issued on 15.04.2019, but no reply or payment was received. The Respondent initially engaged in settlement talks but later
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The Respondent engaged the Applicant for…
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The case involves an application filed by M/s Jones Lang Lasalle Building Operations Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s City Mart Maintenance Services Private Limited, the corporate debtor, due to an alleged default in payment of Rs. 28,33,240/-. The applicant provided property management services to the respondent based on agreements executed between them.
M/s Jones Lang Lasalle Building Operations Private Limited (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s City Mart Maintenance Services Private Limited (the Respondent). The Applicant claimed that the Respondent defaulted on payments amounting to Rs. 28,33,240/- for property management services provided under agreements executed between 2013 and 2019. The Applicant submitted that they provided services as per the agreements, raised invoices, and the last payment received was on 02.07.2018. A statutory demand notice was issued on 15.04.2019, but no reply or payment was received. The Respondent initially engaged in settlement talks but later
…The Respondent engaged the Applicant for…
Agreement titled as 'Letter of Intent for…