The case involves an application filed by Harmony Multimedia Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Karington Club & Resort Limited, the corporate debtor. Harmony Multimedia claims that Karington Club defaulted on payments for advertisements released on its behalf in local newspapers. The applicant issued a demand notice on 18.02.2019, seeking payment of Rs. 20,30,843.75, which includes interest. The corporate debtor allegedly failed to clear the outstanding payment, leading to the application before the NCLT.
Harmony Multimedia Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Karington Club & Resort Limited, the corporate debtor. Harmony Multimedia provided publication services to Karington Club by releasing advertisements in local newspapers. Karington Club allegedly defaulted on payments for these advertisements, leading to an outstanding debt of Rs. 20,30,843.75, including interest. Harmony Multimedia issued a demand notice on 18.02.2019, calling upon Karington Club to make the payment. Karington Club allegedly failed to clear the outstanding payment. The applicant submitted copies of invoices, ledger accounts, and other
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Karington Club & Resort…
Harmony Multimedia Private Limited issues a…
The case involves an application filed by Harmony Multimedia Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Karington Club & Resort Limited, the corporate debtor. Harmony Multimedia claims that Karington Club defaulted on payments for advertisements released on its behalf in local newspapers. The applicant issued a demand notice on 18.02.2019, seeking payment of Rs. 20,30,843.75, which includes interest. The corporate debtor allegedly failed to clear the outstanding payment, leading to the application before the NCLT.
Harmony Multimedia Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Karington Club & Resort Limited, the corporate debtor. Harmony Multimedia provided publication services to Karington Club by releasing advertisements in local newspapers. Karington Club allegedly defaulted on payments for these advertisements, leading to an outstanding debt of Rs. 20,30,843.75, including interest. Harmony Multimedia issued a demand notice on 18.02.2019, calling upon Karington Club to make the payment. Karington Club allegedly failed to clear the outstanding payment. The applicant submitted copies of invoices, ledger accounts, and other
…Karington Club & Resort…
Harmony Multimedia Private Limited issues a…