Innovsource Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Getit Grocery Private Limited, the corporate debtor, for unpaid operational debt. The operational creditor provided manpower outsourcing services to the corporate debtor under a staffing service agreement. The corporate debtor failed to reimburse the operational creditor for services rendered in July and August 2016, leading to the application.
Innovsource Private Limited (Operational Creditor) provided manpower outsourcing services to Getit Grocery Private Limited (Corporate Debtor) under a staffing service agreement executed on 2015-06-04. The agreement was valid from 2015-05-14 to 2016-05-13 and extended to 2017-05-13. The Corporate Debtor failed to reimburse the Operational Creditor for services rendered in July and August 2016, totaling Rs. 3,96,16,509. The Operational Creditor sent a demand notice on 2017-05-05, delivered on 2017-05-22. The Corporate Debtor admitted the debt in emails. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor avoided accepting notices, leading to substituted service. The invoices for the unpaid months
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Staffing service agreement executed between…
Getit Grocery Private Limited failed to…
Innovsource Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Getit Grocery Private Limited, the corporate debtor, for unpaid operational debt. The operational creditor provided manpower outsourcing services to the corporate debtor under a staffing service agreement. The corporate debtor failed to reimburse the operational creditor for services rendered in July and August 2016, leading to the application.
Innovsource Private Limited (Operational Creditor) provided manpower outsourcing services to Getit Grocery Private Limited (Corporate Debtor) under a staffing service agreement executed on 2015-06-04. The agreement was valid from 2015-05-14 to 2016-05-13 and extended to 2017-05-13. The Corporate Debtor failed to reimburse the Operational Creditor for services rendered in July and August 2016, totaling Rs. 3,96,16,509. The Operational Creditor sent a demand notice on 2017-05-05, delivered on 2017-05-22. The Corporate Debtor admitted the debt in emails. The Operational Creditor filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor avoided accepting notices, leading to substituted service. The invoices for the unpaid months
…Staffing service agreement executed between…
Getit Grocery Private Limited failed to…