The case involves a petition filed by Hardik Pankaj Jotangia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate the Corporate Insolvency Resolution Process (CIRP) against Nilltech Software Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 25.03.2010 under the Companies Act, 1956. The petition was filed due to the Corporate Debtor's failure to pay ₹8,50,000.00 as principal and ₹1,01,441.00 as interest, totaling ₹9,51,441.00, as of 28.10.2018. The Operational Creditor and Corporate Debtor entered into an agreement dated 20.06.2018 for software development. The Operational Creditor issued invoices and notices for payment, but the Corporate Debtor failed to make the payment.
Hardik Pankaj Jotangia, an Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against Nilltech Software Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 25.03.2010. The petition was filed on 08.08.2019 due to the Corporate Debtor's failure to pay ₹8,50,000.00 (principal) and ₹1,01,441.00 (interest), totaling ₹9,51,441.00 as of 28.10.2018. The default date, according to the invoice terms, was 30 days after the invoice date of 28.09.2018. The Operational Creditor and Corporate Debtor had an agreement dated 20.06.2018 for software development. The Corporate Debtor issued a purchase order dated 21.06.2018. The Operational Creditor raised an invoice dated 28.09.2018. Notices for payment were issued on 30.11.2018
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Nilltech Software…
The Operational Creditor and Corporate Debtor…
The case involves a petition filed by Hardik Pankaj Jotangia, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate the Corporate Insolvency Resolution Process (CIRP) against Nilltech Software Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 25.03.2010 under the Companies Act, 1956. The petition was filed due to the Corporate Debtor's failure to pay ₹8,50,000.00 as principal and ₹1,01,441.00 as interest, totaling ₹9,51,441.00, as of 28.10.2018. The Operational Creditor and Corporate Debtor entered into an agreement dated 20.06.2018 for software development. The Operational Creditor issued invoices and notices for payment, but the Corporate Debtor failed to make the payment.
Hardik Pankaj Jotangia, an Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against Nilltech Software Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 25.03.2010. The petition was filed on 08.08.2019 due to the Corporate Debtor's failure to pay ₹8,50,000.00 (principal) and ₹1,01,441.00 (interest), totaling ₹9,51,441.00 as of 28.10.2018. The default date, according to the invoice terms, was 30 days after the invoice date of 28.09.2018. The Operational Creditor and Corporate Debtor had an agreement dated 20.06.2018 for software development. The Corporate Debtor issued a purchase order dated 21.06.2018. The Operational Creditor raised an invoice dated 28.09.2018. Notices for payment were issued on 30.11.2018
…Nilltech Software…
The Operational Creditor and Corporate Debtor…