FedEx Express Transportation and Supply Chain Service (India) Private Limited filed a petition for winding up against Pickthemup Technologies Private Limited under Section 433(e) read with 434 of the Companies Act, 1956, before the High Court of Karnataka on December 2, 2016. The case was transferred to the National Company Law Tribunal (NCLT), Bengaluru Bench, following a notification from the Ministry of Corporate Affairs. FedEx, an operational creditor, claimed Pickthemup availed their services from September 18, 2015, with outstanding invoices.
FedEx Express Transportation and Supply Chain Service (India) Private Limited, an operational creditor, filed a petition to initiate the corporate insolvency resolution process (CIRP) against Pickthemup Technologies Private Limited, the corporate debtor. The petition was initially filed before the High Court of Karnataka and later transferred to the NCLT Bengaluru. FedEx claimed that Pickthemup had availed their services since September 18, 2015, and invoices for these services remained unpaid. FedEx issued a demand notice as per the Insolvency and Bankruptcy Rules, 2016, and provided proof of delivery. A certificate from Bank of America confirmed that Pickthemup had not made any payments to FedEx between September 15, 2017, and September 26, 2017. Despite notices
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FedEx filed a petition for winding up against…
Ministry of Corporate…
FedEx Express Transportation and Supply Chain Service (India) Private Limited filed a petition for winding up against Pickthemup Technologies Private Limited under Section 433(e) read with 434 of the Companies Act, 1956, before the High Court of Karnataka on December 2, 2016. The case was transferred to the National Company Law Tribunal (NCLT), Bengaluru Bench, following a notification from the Ministry of Corporate Affairs. FedEx, an operational creditor, claimed Pickthemup availed their services from September 18, 2015, with outstanding invoices.
FedEx Express Transportation and Supply Chain Service (India) Private Limited, an operational creditor, filed a petition to initiate the corporate insolvency resolution process (CIRP) against Pickthemup Technologies Private Limited, the corporate debtor. The petition was initially filed before the High Court of Karnataka and later transferred to the NCLT Bengaluru. FedEx claimed that Pickthemup had availed their services since September 18, 2015, and invoices for these services remained unpaid. FedEx issued a demand notice as per the Insolvency and Bankruptcy Rules, 2016, and provided proof of delivery. A certificate from Bank of America confirmed that Pickthemup had not made any payments to FedEx between September 15, 2017, and September 26, 2017. Despite notices
…FedEx filed a petition for winding up against…
Ministry of Corporate…