Hemant Shah & Associates LLP, the Operational Creditor, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Liveminds Solutions Private Limited, the Corporate Debtor, alleging default in payment for auditing services provided. The Operational Creditor claimed a total amount of Rs. 7,27,733/-, including the principal amount of Rs. 6,49,000/- and interest. The Corporate Debtor's director admitted the liability and default but stated the company's inability to repay due to its poor financial position.
Hemant Shah & Associates LLP (Operational Creditor) provided auditing services to Liveminds Solutions Private Limited (Corporate Debtor). Four invoices were raised on 2018-11-02, totaling Rs. 6,49,000/-. The Operational Creditor claimed a total amount of Rs. 7,27,733/-, including principal and interest calculated at 18% p.a. A demand notice dated 2019-08-10 was sent to the Corporate Debtor, but no reply or payment was made. The Director of the Corporate Debtor admitted the liability and default, citing the company's poor financial position. The Operational Creditor invoked Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is a company incorporated on 2005-11-16.
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Liveminds Solutions…
Operational Creditor raised four invoices…
Hemant Shah & Associates LLP, the Operational Creditor, filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Liveminds Solutions Private Limited, the Corporate Debtor, alleging default in payment for auditing services provided. The Operational Creditor claimed a total amount of Rs. 7,27,733/-, including the principal amount of Rs. 6,49,000/- and interest. The Corporate Debtor's director admitted the liability and default but stated the company's inability to repay due to its poor financial position.
Hemant Shah & Associates LLP (Operational Creditor) provided auditing services to Liveminds Solutions Private Limited (Corporate Debtor). Four invoices were raised on 2018-11-02, totaling Rs. 6,49,000/-. The Operational Creditor claimed a total amount of Rs. 7,27,733/-, including principal and interest calculated at 18% p.a. A demand notice dated 2019-08-10 was sent to the Corporate Debtor, but no reply or payment was made. The Director of the Corporate Debtor admitted the liability and default, citing the company's poor financial position. The Operational Creditor invoked Section 8 and 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor is a company incorporated on 2005-11-16.
Liveminds Solutions…
Operational Creditor raised four invoices…