Broadcast Audience Research Council (BARC), an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mi Marathi Media Limited, a corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the non-payment of operational dues amounting to ₹4,03,750/- along with interest at 18% per annum from 01.04.2016, arising from two invoices issued under an End User License Agreement. The corporate debtor failed to make the payments despite continuous follow-up and a demand notice served by the operational creditor.
Broadcast Audience Research Council (BARC), the Operational Creditor, filed a petition against Mi Marathi Media Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to non-payment of operational dues. BARC provides data to advertisers and broadcasters. Mi Marathi Media Limited operates a news channel. An End User License Agreement was in place between the parties. The Corporate Debtor was obligated to pay ₹8,00,000/- or 0.6% of ₹10,00,00,000/-, whichever is higher, as the subscription value for the licensed data. The Operational Creditor issued two invoices totaling ₹4,03,750/- along with interest at 18% per annum from 01.04.2016. The Corporate Debtor made a partial payment of ₹1,73,750/-, leaving an outstanding amount. A
…Sign in to view the parties.
Operational Creditor sent reminder notices for…
Operational Creditor issued a letter to the…
Broadcast Audience Research Council (BARC), an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mi Marathi Media Limited, a corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the non-payment of operational dues amounting to ₹4,03,750/- along with interest at 18% per annum from 01.04.2016, arising from two invoices issued under an End User License Agreement. The corporate debtor failed to make the payments despite continuous follow-up and a demand notice served by the operational creditor.
Broadcast Audience Research Council (BARC), the Operational Creditor, filed a petition against Mi Marathi Media Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to non-payment of operational dues. BARC provides data to advertisers and broadcasters. Mi Marathi Media Limited operates a news channel. An End User License Agreement was in place between the parties. The Corporate Debtor was obligated to pay ₹8,00,000/- or 0.6% of ₹10,00,00,000/-, whichever is higher, as the subscription value for the licensed data. The Operational Creditor issued two invoices totaling ₹4,03,750/- along with interest at 18% per annum from 01.04.2016. The Corporate Debtor made a partial payment of ₹1,73,750/-, leaving an outstanding amount. A
…Operational Creditor sent reminder notices for…
Operational Creditor issued a letter to the…