The case originates from a petition transferred from the Hon'ble High Court. The petitioner, acting as an Operational Creditor, filed Form No. 5 to initiate the Insolvency Resolution Process against the Corporate Debtor, Nomad Films Limited, for the recovery of an operational debt amounting to ₹6,25,041/-. The petitioner was appointed as 'Head of Sale' with an annual salary of ₹21,60,000/-. The payment terms were on a consultancy basis, with monthly bills of ₹1,80,000/-. The petitioner submitted bills until February 2015, but the bills were not fully paid for services rendered from August 2014 to October 2014. Despite several emails demanding payment, the respondent only provided assurances but made no payments. A notice was issued through an advocate on 23.10.2015
…Sudip Sarcar, the petitioner, filed a petition as an Operational Creditor against Nomad Films Limited, the Corporate Debtor, seeking to recover an operational debt of ₹6,25,041/-. Sarcar was appointed as 'Head of Sale' at Nomad Films with an annual salary of ₹21,60,000/-, payable on a consultancy basis with monthly bills of ₹1,80,000/-. Sarcar submitted bills until February 2015, but payments for services rendered from August 2014 to October 2014 were not fully made. Despite multiple email reminders, Nomad Films only provided assurances without making actual payments. A legal notice was issued on 23.10.2015 demanding the outstanding amount with interest, but Nomad Films did not comply or respond. Only ₹36,000/- of TDS was credited on 31.03.2015. A further notice was
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The case originates from a petition transferred from the Hon'ble High Court. The petitioner, acting as an Operational Creditor, filed Form No. 5 to initiate the Insolvency Resolution Process against the Corporate Debtor, Nomad Films Limited, for the recovery of an operational debt amounting to ₹6,25,041/-. The petitioner was appointed as 'Head of Sale' with an annual salary of ₹21,60,000/-. The payment terms were on a consultancy basis, with monthly bills of ₹1,80,000/-. The petitioner submitted bills until February 2015, but the bills were not fully paid for services rendered from August 2014 to October 2014. Despite several emails demanding payment, the respondent only provided assurances but made no payments. A notice was issued through an advocate on 23.10.2015
…Sudip Sarcar, the petitioner, filed a petition as an Operational Creditor against Nomad Films Limited, the Corporate Debtor, seeking to recover an operational debt of ₹6,25,041/-. Sarcar was appointed as 'Head of Sale' at Nomad Films with an annual salary of ₹21,60,000/-, payable on a consultancy basis with monthly bills of ₹1,80,000/-. Sarcar submitted bills until February 2015, but payments for services rendered from August 2014 to October 2014 were not fully made. Despite multiple email reminders, Nomad Films only provided assurances without making actual payments. A legal notice was issued on 23.10.2015 demanding the outstanding amount with interest, but Nomad Films did not comply or respond. Only ₹36,000/- of TDS was credited on 31.03.2015. A further notice was
…The Petitioner was…
The Petitioner had…