Heligo Charter Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhillon Aviation Private Limited, the corporate debtor, due to unpaid operational debt. The operational creditor provided helicopter rental services to the corporate debtor under two helicopter charter agreements. The corporate debtor defaulted on payments for invoices related to RBI services and police services. Despite reminders, the corporate debtor failed to make payments, leading to the termination of the agreements. The operational creditor issued a demand notice, which the corporate debtor replied to by denying liability and invoking an arbitration clause.
…Heligo Charter Private Limited (Operational Creditor) provided helicopter rental services to Dhillon Aviation Private Limited (Corporate Debtor) under agreements dated 28.01.2016 and 23.08.2016. The services were rendered to the Reserve Bank of India (RBI) and the Chhattisgarh State Police. The Corporate Debtor defaulted on payments for invoices related to RBI services (default on 05.07.2016) and police services (default on 28.04.2017 and 21.05.2018). The Operational Creditor sent timely invoices and reminders. The agreements were terminated on 15.02.2019 and 28.02.2019. The Corporate Debtor made part payments of Rs.1,64,04,992/- on 14.03.2019 and Rs.34,00,000/- on 16.03.2019. As of 20.06.2019, the total amount due was Rs.8,00,31,773/-, including principal of
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Dhillon Aviation…
Execution of Helicopter Charter Agreement…
Heligo Charter Private Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhillon Aviation Private Limited, the corporate debtor, due to unpaid operational debt. The operational creditor provided helicopter rental services to the corporate debtor under two helicopter charter agreements. The corporate debtor defaulted on payments for invoices related to RBI services and police services. Despite reminders, the corporate debtor failed to make payments, leading to the termination of the agreements. The operational creditor issued a demand notice, which the corporate debtor replied to by denying liability and invoking an arbitration clause.
…Heligo Charter Private Limited (Operational Creditor) provided helicopter rental services to Dhillon Aviation Private Limited (Corporate Debtor) under agreements dated 28.01.2016 and 23.08.2016. The services were rendered to the Reserve Bank of India (RBI) and the Chhattisgarh State Police. The Corporate Debtor defaulted on payments for invoices related to RBI services (default on 05.07.2016) and police services (default on 28.04.2017 and 21.05.2018). The Operational Creditor sent timely invoices and reminders. The agreements were terminated on 15.02.2019 and 28.02.2019. The Corporate Debtor made part payments of Rs.1,64,04,992/- on 14.03.2019 and Rs.34,00,000/- on 16.03.2019. As of 20.06.2019, the total amount due was Rs.8,00,31,773/-, including principal of
…Dhillon Aviation…
Execution of Helicopter Charter Agreement…