The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Acuserve Integrated Facilities Private Limited (Operational Creditor) against Neptune Ventures & Developers Private Limited (Corporate Debtor) for recovery of dues amounting to Rs. 28,51,896.00, outstanding as of 08.02.2019. The Operational Creditor initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid operational debt.
Acuserve Integrated Facilities Private Limited (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Neptune Ventures & Developers Private Limited (Corporate Debtor) for recovery of dues amounting to Rs. 28,51,896.00, outstanding as of 08.02.2019. The dues included a principal amount of Rs. 27,03,788.00 and interest of Rs. 1,48,108.00. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. Subsequently, the parties entered into a settlement agreement dated 03.12.2020, for a full and final settlement amount of Rs. 25,50,000/-. As per the settlement, an amount of INR [Rs. 10,00,000/-] was to be paid in the following manner: Rs.
…Sign in to view the parties.
Dues of Rs. 28,51,896.00 (principal of Rs.…
Applicant and Respondent entered into agreement…
The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Acuserve Integrated Facilities Private Limited (Operational Creditor) against Neptune Ventures & Developers Private Limited (Corporate Debtor) for recovery of dues amounting to Rs. 28,51,896.00, outstanding as of 08.02.2019. The Operational Creditor initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid operational debt.
Acuserve Integrated Facilities Private Limited (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Neptune Ventures & Developers Private Limited (Corporate Debtor) for recovery of dues amounting to Rs. 28,51,896.00, outstanding as of 08.02.2019. The dues included a principal amount of Rs. 27,03,788.00 and interest of Rs. 1,48,108.00. The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. Subsequently, the parties entered into a settlement agreement dated 03.12.2020, for a full and final settlement amount of Rs. 25,50,000/-. As per the settlement, an amount of INR [Rs. 10,00,000/-] was to be paid in the following manner: Rs.
…Dues of Rs. 28,51,896.00 (principal of Rs.…
Applicant and Respondent entered into agreement…