SAM Business Continuity Services, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against JSP Projects Pvt. Ltd., the corporate debtor, for alleged default in clearing a debt of Rs. 4,26,38,271. The applicant claimed to have provided consultancy services to the respondent, who was bidding for tenders issued by the Jharkhand Government. A consultancy agreement dated 20.10.2018 was signed, stipulating a consultancy fee of 3% of the work order value awarded to the respondent. The applicant alleges that the respondent failed to pay the outstanding amount despite multiple invoices raised.
SAM Business Continuity Services (the applicant), an operational creditor, filed an application against JSP Projects Pvt. Ltd. (the respondent), a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the respondent defaulted on a debt of Rs. 4,26,38,271/-. The applicant provided consultancy services to the respondent for bidding on tenders issued by the Jharkhand Government. A consultancy agreement dated 20.10.2018 was signed, with a consultancy fee of 3% of the work order value. The applicant assisted the respondent in becoming the L1 bidder for a project. The respondent made an initial payment of Rs. 15 Lakh. The applicant raised multiple invoices for the remaining payment, but the respondent allegedly made some
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A consultancy agreement was signed between…
JBVNL issued a Letter…
SAM Business Continuity Services, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against JSP Projects Pvt. Ltd., the corporate debtor, for alleged default in clearing a debt of Rs. 4,26,38,271. The applicant claimed to have provided consultancy services to the respondent, who was bidding for tenders issued by the Jharkhand Government. A consultancy agreement dated 20.10.2018 was signed, stipulating a consultancy fee of 3% of the work order value awarded to the respondent. The applicant alleges that the respondent failed to pay the outstanding amount despite multiple invoices raised.
SAM Business Continuity Services (the applicant), an operational creditor, filed an application against JSP Projects Pvt. Ltd. (the respondent), a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the respondent defaulted on a debt of Rs. 4,26,38,271/-. The applicant provided consultancy services to the respondent for bidding on tenders issued by the Jharkhand Government. A consultancy agreement dated 20.10.2018 was signed, with a consultancy fee of 3% of the work order value. The applicant assisted the respondent in becoming the L1 bidder for a project. The respondent made an initial payment of Rs. 15 Lakh. The applicant raised multiple invoices for the remaining payment, but the respondent allegedly made some
…A consultancy agreement was signed between…
JBVNL issued a Letter…