The case pertains to an application filed by Ienergizer IT Services Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Free Culture Apparels Pvt. Ltd., the Corporate Debtor, for outstanding operational debt. The Operational Creditor provided call center services to the Corporate Debtor based on an agreement dated 21.10.2011. Initially, the Corporate Debtor made regular payments, but from August 2015, payments faltered, leading to default. The Operational Creditor issued demand notices under the Companies Act, 1956, and subsequently filed a company petition before the High Court of Delhi, which was later transferred to the NCLT. After withdrawing the
…Ienergizer IT Services Pvt. Ltd. (Operational Creditor) provided call center services to Free Culture Apparels Pvt. Ltd. (Corporate Debtor) based on a 'Call Centre Agreement' dated 21.10.2011. The Corporate Debtor initially made regular payments, but from August 2015, payments started faltering, leading to defaults. The Operational Creditor issued a demand notice dated 19.08.2016 under sections 433 and 434 of the Companies Act, 1956, and another notice dated 15.10.2016. As there was no reply, the Operational Creditor filed a company petition (CP 1208/2016) before the Hon'ble High Court of Delhi, which was later transferred to the NCLT. The Operational Creditor withdrew the petition with liberty to file a fresh one. A demand notice dated 25.04.2017 was issued under
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Agreement entered into between Ienergizer IT…
Free Culture Apparels…
The case pertains to an application filed by Ienergizer IT Services Pvt. Ltd., the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Free Culture Apparels Pvt. Ltd., the Corporate Debtor, for outstanding operational debt. The Operational Creditor provided call center services to the Corporate Debtor based on an agreement dated 21.10.2011. Initially, the Corporate Debtor made regular payments, but from August 2015, payments faltered, leading to default. The Operational Creditor issued demand notices under the Companies Act, 1956, and subsequently filed a company petition before the High Court of Delhi, which was later transferred to the NCLT. After withdrawing the
…Ienergizer IT Services Pvt. Ltd. (Operational Creditor) provided call center services to Free Culture Apparels Pvt. Ltd. (Corporate Debtor) based on a 'Call Centre Agreement' dated 21.10.2011. The Corporate Debtor initially made regular payments, but from August 2015, payments started faltering, leading to defaults. The Operational Creditor issued a demand notice dated 19.08.2016 under sections 433 and 434 of the Companies Act, 1956, and another notice dated 15.10.2016. As there was no reply, the Operational Creditor filed a company petition (CP 1208/2016) before the Hon'ble High Court of Delhi, which was later transferred to the NCLT. The Operational Creditor withdrew the petition with liberty to file a fresh one. A demand notice dated 25.04.2017 was issued under
…Agreement entered into between Ienergizer IT…
Free Culture Apparels…