The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Tiger Logistics (India) Ltd, an operational creditor, against Famous Tradeline Private Limited, the corporate debtor. Tiger Logistics claimed that Famous Tradeline defaulted on payments for logistical and freight forwarding services. The applicant provided logistical services, comprising of arrangement of international ocean freight services by road and railways and agency attendance services for export of the corporate debtor's goods from India to their final destination. The applicant raised and submitted respective invoices pertaining to the logistical and freight forwarding services provided and the corporate debtor used to make payment. From August 2016
…Tiger Logistics (India) Ltd, the operational creditor, provided logistics and freight forwarding services to Famous Tradeline Private Limited, the corporate debtor. The services included international ocean freight services. Tiger Logistics raised invoices totaling Rs. 42,17,490/- for the financial year 2016-2017, but Famous Tradeline only paid Rs. 28,66,276/-, leaving an outstanding debt of Rs. 13,51,214/-. In September 2017, Famous Tradeline acknowledged the outstanding liabilities and executed a Memorandum of Understanding (MoU) to pay the debt within 90 days in weekly installments. However, Famous Tradeline defaulted on the installments. Tiger Logistics issued a demand notice dated 04.01.2019 under Section 8 of the IBC, but Famous Tradeline did not reply or raise
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From August 2016 onwards, the corporate…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Tiger Logistics (India) Ltd, an operational creditor, against Famous Tradeline Private Limited, the corporate debtor. Tiger Logistics claimed that Famous Tradeline defaulted on payments for logistical and freight forwarding services. The applicant provided logistical services, comprising of arrangement of international ocean freight services by road and railways and agency attendance services for export of the corporate debtor's goods from India to their final destination. The applicant raised and submitted respective invoices pertaining to the logistical and freight forwarding services provided and the corporate debtor used to make payment. From August 2016
…Tiger Logistics (India) Ltd, the operational creditor, provided logistics and freight forwarding services to Famous Tradeline Private Limited, the corporate debtor. The services included international ocean freight services. Tiger Logistics raised invoices totaling Rs. 42,17,490/- for the financial year 2016-2017, but Famous Tradeline only paid Rs. 28,66,276/-, leaving an outstanding debt of Rs. 13,51,214/-. In September 2017, Famous Tradeline acknowledged the outstanding liabilities and executed a Memorandum of Understanding (MoU) to pay the debt within 90 days in weekly installments. However, Famous Tradeline defaulted on the installments. Tiger Logistics issued a demand notice dated 04.01.2019 under Section 8 of the IBC, but Famous Tradeline did not reply or raise
…From August 2016 onwards, the corporate…
Start date of the…