The case involves an application for the initiation of a corporate insolvency resolution process by an Operational Creditor, Arup Kumar Gupta, against the Corporate Debtor, M/S. Hotel East Palace Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor had approached them to handle and settle litigation filed by Punjab National Bank regarding a business loan. The Operational Creditor sent an email detailing their fee schedule, which the Corporate Debtor allegedly accepted. The Operational Creditor then engaged advocates and raised a bill of Rs. 10,50,000/-. However, the Corporate Debtor failed to pay the bills despite several requests, leading the Operational Creditor to issue a demand
…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 litigation with Punjab National Bank. The Operational Creditor sent a fee schedule via email, which the Corporate Debtor allegedly accepted through a letter dated 11th July, 2018. The Operational Creditor raised a bill of Rs. 10,50,000/-. The Corporate Debtor failed to pay the bill despite requests. A demand notice was sent on 22nd December, 2018, and received by the Corporate Debtor on 26th December, 2018. The Corporate Debtor did not appear before the Tribunal despite being served notice, leading to
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The Operational Creditor sent an email to the…
The Corporate Debtor allegedly accepted the…
The case involves an application for the initiation of a corporate insolvency resolution process by an Operational Creditor, Arup Kumar Gupta, against the Corporate Debtor, M/S. Hotel East Palace Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor had approached them to handle and settle litigation filed by Punjab National Bank regarding a business loan. The Operational Creditor sent an email detailing their fee schedule, which the Corporate Debtor allegedly accepted. The Operational Creditor then engaged advocates and raised a bill of Rs. 10,50,000/-. However, the Corporate Debtor failed to pay the bills despite several requests, leading the Operational Creditor to issue a demand
…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 litigation with Punjab National Bank. The Operational Creditor sent a fee schedule via email, which the Corporate Debtor allegedly accepted through a letter dated 11th July, 2018. The Operational Creditor raised a bill of Rs. 10,50,000/-. The Corporate Debtor failed to pay the bill despite requests. A demand notice was sent on 22nd December, 2018, and received by the Corporate Debtor on 26th December, 2018. The Corporate Debtor did not appear before the Tribunal despite being served notice, leading to
…The Operational Creditor sent an email to the…
The Corporate Debtor allegedly accepted the…