The case involves an application filed by P.E. Analytics Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Golden Gate Ventures Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services provided under a License Agreement. The Corporate Debtor opposed the application, but the NCLT admitted the petition.
P.E. Analytics Private Limited (Operational Creditor) and Golden Gate Ventures Private Limited (Corporate Debtor) entered into a License Agreement on May 14, 2015, for the provision of online data services. The agreement was for a period of 12 months, with a fee structure of Rs. 6,00,000 per annum, exclusive of service tax, payable in quarterly installments. The agreement was renewed on June 17, 2016. The Corporate Debtor made payments for the first quarter but defaulted on subsequent payments. The Operational Creditor issued a demand notice on June 15, 2018, claiming Rs. 12,04,500. The Corporate Debtor did not reply to the notice or make the payment. The Operational Creditor filed a petition under Section 9 of the IBC. The Corporate Debtor, in its emails, admitted to
…Sign in to view the parties.
P.E. Analytics Private Limited and Golden Gate…
The License Agreement…
The case involves an application filed by P.E. Analytics Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Golden Gate Ventures Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services provided under a License Agreement. The Corporate Debtor opposed the application, but the NCLT admitted the petition.
P.E. Analytics Private Limited (Operational Creditor) and Golden Gate Ventures Private Limited (Corporate Debtor) entered into a License Agreement on May 14, 2015, for the provision of online data services. The agreement was for a period of 12 months, with a fee structure of Rs. 6,00,000 per annum, exclusive of service tax, payable in quarterly installments. The agreement was renewed on June 17, 2016. The Corporate Debtor made payments for the first quarter but defaulted on subsequent payments. The Operational Creditor issued a demand notice on June 15, 2018, claiming Rs. 12,04,500. The Corporate Debtor did not reply to the notice or make the payment. The Operational Creditor filed a petition under Section 9 of the IBC. The Corporate Debtor, in its emails, admitted to
…P.E. Analytics Private Limited and Golden Gate…
The License Agreement…