The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Universal Agency, an Operational Creditor, against Deep Water Services (India) Ltd., the Corporate Debtor. The Operational Creditor sought to initiate the resolution process due to the Corporate Debtor's inability to pay dues for goods supplied. The Corporate Debtor is a wholly owned subsidiary of GOL Offshore Ltd. (GOL). The Operational Creditor claimed that invoices were raised on the Corporate Debtor, and delivery notes were accepted by the Corporate Debtor/GOL. The Corporate Debtor had admitted its liability and promised to pay as soon as its finances would permit, but no steps were taken. A notice was issued by the Operational Creditor on 2017-05-08 demanding the
…Universal Agency, the Operational Creditor, filed a petition against Deep Water Services (India) Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the resolution process due to unpaid dues for goods supplied. The Corporate Debtor is a wholly owned subsidiary of GOL Offshore Ltd. (GOL). The Operational Creditor claimed that invoices were raised and delivery notes were accepted by the Corporate Debtor/GOL. The ledger account maintained by the Operational Creditor reflected a sum of Rs. 26,18,423/- due and payable by the Corporate Debtor, which was the balance after adjusting a payment of Rs. 5,00,078.58 made by the Corporate Debtor on 2016-12-28. The Corporate Debtor had admitted its liability and promised to
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The earliest invoice…
The Corporate Debtor made a payment of Rs.…
The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Universal Agency, an Operational Creditor, against Deep Water Services (India) Ltd., the Corporate Debtor. The Operational Creditor sought to initiate the resolution process due to the Corporate Debtor's inability to pay dues for goods supplied. The Corporate Debtor is a wholly owned subsidiary of GOL Offshore Ltd. (GOL). The Operational Creditor claimed that invoices were raised on the Corporate Debtor, and delivery notes were accepted by the Corporate Debtor/GOL. The Corporate Debtor had admitted its liability and promised to pay as soon as its finances would permit, but no steps were taken. A notice was issued by the Operational Creditor on 2017-05-08 demanding the
…Universal Agency, the Operational Creditor, filed a petition against Deep Water Services (India) Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the resolution process due to unpaid dues for goods supplied. The Corporate Debtor is a wholly owned subsidiary of GOL Offshore Ltd. (GOL). The Operational Creditor claimed that invoices were raised and delivery notes were accepted by the Corporate Debtor/GOL. The ledger account maintained by the Operational Creditor reflected a sum of Rs. 26,18,423/- due and payable by the Corporate Debtor, which was the balance after adjusting a payment of Rs. 5,00,078.58 made by the Corporate Debtor on 2016-12-28. The Corporate Debtor had admitted its liability and promised to
…The earliest invoice…
The Corporate Debtor made a payment of Rs.…