The case pertains to an application filed by Mr. Arup Kumar Gupta, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against M/S. HOTEL EAST PALACE PRIVATE LIMITED, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had approached him to handle and settle litigation filed by Punjab National Bank regarding a business loan. The Operational Creditor sent an email on June 28, 2018, detailing their fee schedule, which the Corporate Debtor accepted through a letter dated July 11, 2018. The Operational Creditor engaged advocates, took steps, and raised a bill of Rs. 10,50,000/-. However, the Corporate Debtor failed to pay despite requests, leading to
…Mr. Arup Kumar Gupta, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S. HOTEL EAST PALACE PRIVATE LIMITED, the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor to handle and settle litigation with Punjab National Bank regarding a business loan. The Operational Creditor sent an email on June 28, 2018, detailing their fee schedule, which the Corporate Debtor accepted through a letter dated July 11, 2018. The Operational Creditor engaged advocates and raised a bill of Rs. 10,50,000/-, but the Corporate Debtor failed to pay. The Operational Creditor sent a demand notice dated December 22, 2018, which was received by the Corporate Debtor on December 26, 2018. The Corporate
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The Operational Creditor sent an email to the…
The Corporate Debtor accepted the fee…
The case pertains to an application filed by Mr. Arup Kumar Gupta, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against M/S. HOTEL EAST PALACE PRIVATE LIMITED, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had approached him to handle and settle litigation filed by Punjab National Bank regarding a business loan. The Operational Creditor sent an email on June 28, 2018, detailing their fee schedule, which the Corporate Debtor accepted through a letter dated July 11, 2018. The Operational Creditor engaged advocates, took steps, and raised a bill of Rs. 10,50,000/-. However, the Corporate Debtor failed to pay despite requests, leading to
…Mr. Arup Kumar Gupta, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S. HOTEL EAST PALACE PRIVATE LIMITED, the Corporate Debtor. The Corporate Debtor had approached the Operational Creditor to handle and settle litigation with Punjab National Bank regarding a business loan. The Operational Creditor sent an email on June 28, 2018, detailing their fee schedule, which the Corporate Debtor accepted through a letter dated July 11, 2018. The Operational Creditor engaged advocates and raised a bill of Rs. 10,50,000/-, but the Corporate Debtor failed to pay. The Operational Creditor sent a demand notice dated December 22, 2018, which was received by the Corporate Debtor on December 26, 2018. The Corporate
…The Operational Creditor sent an email to the…
The Corporate Debtor accepted the fee…