The case involves Star India Private Limited, the Operational Creditor, filing a petition against Infiniti Television and Telecom Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to default in payment of dues. Star India provided broadcasting services to Infiniti Television, a multi-system operator, under an agreement dated December 20, 2017, which entitled Star India to a license fee of Rs. 7,62,712 per month. Infiniti Television failed to pay the dues, leading to disconnection of services by Star India and the subsequent filing of the insolvency petition.
Star India Private Limited (Operational Creditor) provided broadcasting services to Infiniti Television and Telecom Pvt. Ltd. (Corporate Debtor) under an agreement dated December 20, 2017. The agreement stipulated a monthly license fee of Rs. 7,62,712. Infiniti Television defaulted on payments, leading Star India to disconnect services. Star India issued a demand notice dated October 24, 2018, under Section 8 of the IBC, but received no reply. Infiniti Television admitted the liability through communications, TDS deductions, and a proposed repayment plan that was not fulfilled. The Corporate Debtor is a multi-system operator that receives signals from a broadcaster and re-transmits the same to the consumers or cable operators in the territory of the State of Assam.
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Agreement executed between Star India Private…
Star India Private Limited issued a demand…
The case involves Star India Private Limited, the Operational Creditor, filing a petition against Infiniti Television and Telecom Pvt. Ltd., the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to default in payment of dues. Star India provided broadcasting services to Infiniti Television, a multi-system operator, under an agreement dated December 20, 2017, which entitled Star India to a license fee of Rs. 7,62,712 per month. Infiniti Television failed to pay the dues, leading to disconnection of services by Star India and the subsequent filing of the insolvency petition.
Star India Private Limited (Operational Creditor) provided broadcasting services to Infiniti Television and Telecom Pvt. Ltd. (Corporate Debtor) under an agreement dated December 20, 2017. The agreement stipulated a monthly license fee of Rs. 7,62,712. Infiniti Television defaulted on payments, leading Star India to disconnect services. Star India issued a demand notice dated October 24, 2018, under Section 8 of the IBC, but received no reply. Infiniti Television admitted the liability through communications, TDS deductions, and a proposed repayment plan that was not fulfilled. The Corporate Debtor is a multi-system operator that receives signals from a broadcaster and re-transmits the same to the consumers or cable operators in the territory of the State of Assam.
Agreement executed between Star India Private…
Star India Private Limited issued a demand…