Voyages Booth, a partnership firm, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate corporate insolvency resolution process (CIRP) against HWT Travels Private Limited for alleged default in clearing dues amounting to Rs. 76,88,124/- along with interest. Voyages Booth claimed to have worked as an agent for HWT Travels, with Nikhil Kumar Mishra and Rahul Gupta as partners approaching Mahesh Sharma, a director of HWT Travels. A letter of understanding was signed, and Voyages Booth deposited 20,000 US dollars as security. While HWT Travels initially paid commissions, they later defaulted, leading Voyages Booth to cease operations as an agent. Voyages Booth sent a legal notice on 2018-12-15 under Section 8 of the Code,
…Voyages Booth, a partnership firm, sought to initiate CIRP against HWT Travels Private Limited under Section 9 of the IBC, claiming a default of Rs. 76,88,124/-. Voyages Booth alleged they acted as an agent for HWT Travels, with an understanding facilitated by Mahesh Sharma, a director of HWT Travels. A letter of understanding was signed on 2016-01-29, and Voyages Booth deposited 20,000 US dollars as security. HWT Travels initially paid commissions but later defaulted. Voyages Booth sent a legal notice on 2018-12-15 under Section 8 of the IBC. HWT Travels replied on 2018-12-27, denying the allegations. HWT Travels argued that Voyages Booth did not disclose their business plan, the agreement was incomplete, and Mahesh Sharma was not a director at the time of the
…Sign in to view the parties.
A letter of understanding was signed between…
As per the Applicant's account, Rs.…
Voyages Booth, a partnership firm, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate corporate insolvency resolution process (CIRP) against HWT Travels Private Limited for alleged default in clearing dues amounting to Rs. 76,88,124/- along with interest. Voyages Booth claimed to have worked as an agent for HWT Travels, with Nikhil Kumar Mishra and Rahul Gupta as partners approaching Mahesh Sharma, a director of HWT Travels. A letter of understanding was signed, and Voyages Booth deposited 20,000 US dollars as security. While HWT Travels initially paid commissions, they later defaulted, leading Voyages Booth to cease operations as an agent. Voyages Booth sent a legal notice on 2018-12-15 under Section 8 of the Code,
…Voyages Booth, a partnership firm, sought to initiate CIRP against HWT Travels Private Limited under Section 9 of the IBC, claiming a default of Rs. 76,88,124/-. Voyages Booth alleged they acted as an agent for HWT Travels, with an understanding facilitated by Mahesh Sharma, a director of HWT Travels. A letter of understanding was signed on 2016-01-29, and Voyages Booth deposited 20,000 US dollars as security. HWT Travels initially paid commissions but later defaulted. Voyages Booth sent a legal notice on 2018-12-15 under Section 8 of the IBC. HWT Travels replied on 2018-12-27, denying the allegations. HWT Travels argued that Voyages Booth did not disclose their business plan, the agreement was incomplete, and Mahesh Sharma was not a director at the time of the
…A letter of understanding was signed between…
As per the Applicant's account, Rs.…