The case involves a petition filed by Hardik Pankaj Jotangia, an Operational Creditor, against Pollen Computer Park Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor alleges that the Corporate Debtor defaulted on payments for invoices raised under a Software Development Agreement. The Corporate Debtor acknowledged the debt but cited economic slowdown and overall industrial scenario as reasons for their inability to pay.
Hardik Pankaj Jotangia, the Operational Creditor, filed a petition against Pollen Computer Park Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016, for defaulting on payments related to a Software Development Agreement. The agreement was entered on 2018-06-02, and a purchase order was placed by the Corporate Debtor on 2018-06-03. An invoice for Rs. 8,75,000/- was raised on 2018-09-15. Despite reminder notices, the Corporate Debtor failed to make the payment. A demand notice dated 2019-06-18 was sent, demanding Rs. 8,75,000/- plus interest of Rs. 1,04,856/-, totaling Rs. 9,79,856/-. The Corporate Debtor acknowledged the debt but cited economic slowdown as the reason for non-payment. The Operational Creditor submitted documents including the demand
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Operational Creditor…
Corporate Debtor placed a purchase order with…
The case involves a petition filed by Hardik Pankaj Jotangia, an Operational Creditor, against Pollen Computer Park Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor alleges that the Corporate Debtor defaulted on payments for invoices raised under a Software Development Agreement. The Corporate Debtor acknowledged the debt but cited economic slowdown and overall industrial scenario as reasons for their inability to pay.
Hardik Pankaj Jotangia, the Operational Creditor, filed a petition against Pollen Computer Park Private Limited, the Corporate Debtor, under Section 9 of the IBC, 2016, for defaulting on payments related to a Software Development Agreement. The agreement was entered on 2018-06-02, and a purchase order was placed by the Corporate Debtor on 2018-06-03. An invoice for Rs. 8,75,000/- was raised on 2018-09-15. Despite reminder notices, the Corporate Debtor failed to make the payment. A demand notice dated 2019-06-18 was sent, demanding Rs. 8,75,000/- plus interest of Rs. 1,04,856/-, totaling Rs. 9,79,856/-. The Corporate Debtor acknowledged the debt but cited economic slowdown as the reason for non-payment. The Operational Creditor submitted documents including the demand
…Operational Creditor…
Corporate Debtor placed a purchase order with…