The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/S Finex Consultancy Services (the Applicant), an operational creditor, against M/S Plus Corporate Ventures Private Limited (the Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Applicant provided consultancy services to the Corporate Debtor, and an agreement was executed on 17.12.2018. The Corporate Debtor allegedly defaulted on payments for these services, leading to the application.
M/S Finex Consultancy Services, the Applicant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Plus Corporate Ventures Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Applicant and the Corporate Debtor entered into an agreement on 17.12.2018, where the Applicant was to provide consultancy services for a professional fee of Rs. 6,00,000/- per year, payable in quarterly installments. The agreement was effective from 01.01.2019. The Applicant raised a quarterly invoice on 07.01.2019 for Rs. 1,50,000/- for the period from January, 2019 to March, 2019. The Corporate Debtor sent a letter dated 30.03.2019 suspending the consultancy services. The Applicant claims
…Sign in to view the parties.
Agreement executed between the Applicant and…
Agreement between the…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/S Finex Consultancy Services (the Applicant), an operational creditor, against M/S Plus Corporate Ventures Private Limited (the Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Applicant provided consultancy services to the Corporate Debtor, and an agreement was executed on 17.12.2018. The Corporate Debtor allegedly defaulted on payments for these services, leading to the application.
M/S Finex Consultancy Services, the Applicant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Plus Corporate Ventures Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Applicant and the Corporate Debtor entered into an agreement on 17.12.2018, where the Applicant was to provide consultancy services for a professional fee of Rs. 6,00,000/- per year, payable in quarterly installments. The agreement was effective from 01.01.2019. The Applicant raised a quarterly invoice on 07.01.2019 for Rs. 1,50,000/- for the period from January, 2019 to March, 2019. The Corporate Debtor sent a letter dated 30.03.2019 suspending the consultancy services. The Applicant claims
…Agreement executed between the Applicant and…
Agreement between the…