The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Raj Metro Life Sciences Private Limited (Operational Creditor) against Duraent Biologicals Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 3,07,38,876 as of 31.03.2019. The Operational Creditor and Corporate Debtor had entered into an agency agreement in 2010, where the Operational Creditor invested in the Corporate Debtor's business and was entitled to a minimum return and sales commission. The Corporate Debtor started returning payments in 2014 but failed to pay the balance amount. The Operational Creditor issued legal notices and a demand notice, but no repayment or
…Raj Metro Life Sciences Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Duraent Biologicals Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 3,07,38,876 as of March 31, 2019. The Corporate Debtor is a public limited company incorporated on June 24, 2010. The Operational Creditor is a private limited company. The Operational Creditor and the Corporate Debtor entered into an Agency Agreement dated October 16, 2010, for a period of three years, which included an auto-renewal provision. The Operational Creditor invested in the Corporate Debtor's business, entitling them to a minimum return of 2.5%
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Agency Agreement entered into between Raj Metro…
Business Relationship Agreement entered into…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Raj Metro Life Sciences Private Limited (Operational Creditor) against Duraent Biologicals Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 3,07,38,876 as of 31.03.2019. The Operational Creditor and Corporate Debtor had entered into an agency agreement in 2010, where the Operational Creditor invested in the Corporate Debtor's business and was entitled to a minimum return and sales commission. The Corporate Debtor started returning payments in 2014 but failed to pay the balance amount. The Operational Creditor issued legal notices and a demand notice, but no repayment or
…Raj Metro Life Sciences Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Duraent Biologicals Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 3,07,38,876 as of March 31, 2019. The Corporate Debtor is a public limited company incorporated on June 24, 2010. The Operational Creditor is a private limited company. The Operational Creditor and the Corporate Debtor entered into an Agency Agreement dated October 16, 2010, for a period of three years, which included an auto-renewal provision. The Operational Creditor invested in the Corporate Debtor's business, entitling them to a minimum return of 2.5%
…Agency Agreement entered into between Raj Metro…
Business Relationship Agreement entered into…