American Express Banking Corporation filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solution Ltd. due to alleged default in settling dues amounting to Rs. 2,20,69,803.39/- for credit facilities availed by the Respondent. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
American Express Banking Corporation (the Applicant) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solution Ltd. (the Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The alleged default was in settling dues of Rs. 2,20,69,803.39/- for credit facilities availed by the Respondent. The Respondent had submitted three card member applications dated 18.04.2016 and 21.12.2016 through its employees. The Respondent agreed to be solely liable for all charges incurred on the corporate cards and bound by the American Express Corporate Card Member Agreement. The credit facilities were available under three AEBC Card Nos. 3765-340549-61002, 3765-340798-11000 and 3765-365476-91005. The Applicant
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First and second card member applications…
Third card member…
American Express Banking Corporation filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solution Ltd. due to alleged default in settling dues amounting to Rs. 2,20,69,803.39/- for credit facilities availed by the Respondent. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
American Express Banking Corporation (the Applicant) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solution Ltd. (the Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The alleged default was in settling dues of Rs. 2,20,69,803.39/- for credit facilities availed by the Respondent. The Respondent had submitted three card member applications dated 18.04.2016 and 21.12.2016 through its employees. The Respondent agreed to be solely liable for all charges incurred on the corporate cards and bound by the American Express Corporate Card Member Agreement. The credit facilities were available under three AEBC Card Nos. 3765-340549-61002, 3765-340798-11000 and 3765-365476-91005. The Applicant
…First and second card member applications…
Third card member…