M/s Engineered Facility Management Services filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s EVAN Multispecialty Hospital & Research Centre Private Limited. The applicant claimed default in settling a demand of Rs. 27,01,812/- along with interest for services rendered. The applicant provided cleaning and housekeeping services to the respondent's hospital based on a work contract established via a Letter of Intent dated 2015-07-10. Invoicing was done monthly, and the services continued even after the initial one-year period without objection. However, after 2017-11-21, the respondent stopped making payments, despite reminders sent by the applicant.
M/s Engineered Facility Management Services (the Applicant) provided cleaning and housekeeping services to EVAN Multispecialty Hospital & Research Centre Private Limited (the Respondent) based on a work contract established via a Letter of Intent dated 2015-07-10. The Applicant invoiced the Respondent monthly. After 2017-11-21, the Respondent stopped making payments. The Applicant sent reminders via email. On 2018-07-18, the Applicant served a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016. The Respondent admitted to owing Rs. 27,07,112/- but cited financial distress. Punjab National Bank, a creditor of the Respondent, scheduled an auction of the Respondent's secured assets. The Applicant filed an application under Section 9 of the
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M/s Engineered Facility Management Services filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s EVAN Multispecialty Hospital & Research Centre Private Limited. The applicant claimed default in settling a demand of Rs. 27,01,812/- along with interest for services rendered. The applicant provided cleaning and housekeeping services to the respondent's hospital based on a work contract established via a Letter of Intent dated 2015-07-10. Invoicing was done monthly, and the services continued even after the initial one-year period without objection. However, after 2017-11-21, the respondent stopped making payments, despite reminders sent by the applicant.
M/s Engineered Facility Management Services (the Applicant) provided cleaning and housekeeping services to EVAN Multispecialty Hospital & Research Centre Private Limited (the Respondent) based on a work contract established via a Letter of Intent dated 2015-07-10. The Applicant invoiced the Respondent monthly. After 2017-11-21, the Respondent stopped making payments. The Applicant sent reminders via email. On 2018-07-18, the Applicant served a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016. The Respondent admitted to owing Rs. 27,07,112/- but cited financial distress. Punjab National Bank, a creditor of the Respondent, scheduled an auction of the Respondent's secured assets. The Applicant filed an application under Section 9 of the
…The Applicant and the Respondent entered into…
The Respondent stopped…