The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Oriental Cuisines Private Limited (Corporate Debtor) by Mr. R. Pradeep (Operational Creditor). The petition was based on the Corporate Debtor's alleged default in paying Franchisee Fees of ₹6,00,000 along with interest at 12% per annum. The creditor issued a legal notice on 23.02.2017 demanding the debtor to return ₹6,00,000 paid towards franchisee by way of cheque drawn on 27.10.2015. The Corporate Debtor disputed the claim, asserting that the Creditor was not entitled to a return of the money and made a counter claim demanding damages of ₹13,00,000 along with interest @ 18% per annum.
Mr. R. Pradeep (Operational Creditor) filed a Company Petition against M/s. Oriental Cuisines Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for unpaid Franchisee Fees of ₹6,00,000 along with 12% interest per annum. The creditor sent a legal notice on 23.02.2017 demanding the return of the franchisee fees paid via cheque on 27.10.2015. The Corporate Debtor disputed the claim on 20.03.2017, asserting the creditor was not entitled to a refund and counterclaimed ₹13,00,000 in damages with 18% interest per annum due to delays caused by the creditor. The creditor issued a Section 8 notice on 22.10.2018, despite the existing dispute. The Corporate Debtor reiterated their dispute in response to the Section 8
…Sign in to view the parties.
Cheque drawn…
Creditor issued a legal…
The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Oriental Cuisines Private Limited (Corporate Debtor) by Mr. R. Pradeep (Operational Creditor). The petition was based on the Corporate Debtor's alleged default in paying Franchisee Fees of ₹6,00,000 along with interest at 12% per annum. The creditor issued a legal notice on 23.02.2017 demanding the debtor to return ₹6,00,000 paid towards franchisee by way of cheque drawn on 27.10.2015. The Corporate Debtor disputed the claim, asserting that the Creditor was not entitled to a return of the money and made a counter claim demanding damages of ₹13,00,000 along with interest @ 18% per annum.
Mr. R. Pradeep (Operational Creditor) filed a Company Petition against M/s. Oriental Cuisines Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The claim was for unpaid Franchisee Fees of ₹6,00,000 along with 12% interest per annum. The creditor sent a legal notice on 23.02.2017 demanding the return of the franchisee fees paid via cheque on 27.10.2015. The Corporate Debtor disputed the claim on 20.03.2017, asserting the creditor was not entitled to a refund and counterclaimed ₹13,00,000 in damages with 18% interest per annum due to delays caused by the creditor. The creditor issued a Section 8 notice on 22.10.2018, despite the existing dispute. The Corporate Debtor reiterated their dispute in response to the Section 8
…Cheque drawn…
Creditor issued a legal…