The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Lexcorp Advisory Services Private Limited (Operational Creditor) against Proline Infra – Trading Private Limited (Corporate Debtor). The Operational Creditor provided professional services to the Corporate Debtor based on a Retainership Agreement dated 01.08.2017. An invoice for ₹23,60,000/- was raised on 09.02.2018, but the Corporate Debtor failed to make the payment despite repeated requests and assurances.
Lexcorp Advisory Services Private Limited (Operational Creditor) provided professional services to Proline Infra – Trading Private Limited (Corporate Debtor) under a Retainership Agreement dated 01.08.2017. The services included Legal, Accounting, Audit, Financial, and Secretarial Consultancy. An invoice dated 09.02.2018 for ₹23,60,000/- was raised, including ₹20,00,000/- for professional fees and ₹3,60,000/- for taxes. The Corporate Debtor acknowledged the invoice but failed to make the payment within the agreed 10 days. The Corporate Debtor requested more time to clear the dues in a letter dated 19.02.2018. Despite reminders and a termination notice dated 10.04.2018, the Corporate Debtor did not pay. The Operational Creditor issued a Demand Notice under Section 8 of
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Operational Creditor…
Operational Creditor…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Lexcorp Advisory Services Private Limited (Operational Creditor) against Proline Infra – Trading Private Limited (Corporate Debtor). The Operational Creditor provided professional services to the Corporate Debtor based on a Retainership Agreement dated 01.08.2017. An invoice for ₹23,60,000/- was raised on 09.02.2018, but the Corporate Debtor failed to make the payment despite repeated requests and assurances.
Lexcorp Advisory Services Private Limited (Operational Creditor) provided professional services to Proline Infra – Trading Private Limited (Corporate Debtor) under a Retainership Agreement dated 01.08.2017. The services included Legal, Accounting, Audit, Financial, and Secretarial Consultancy. An invoice dated 09.02.2018 for ₹23,60,000/- was raised, including ₹20,00,000/- for professional fees and ₹3,60,000/- for taxes. The Corporate Debtor acknowledged the invoice but failed to make the payment within the agreed 10 days. The Corporate Debtor requested more time to clear the dues in a letter dated 19.02.2018. Despite reminders and a termination notice dated 10.04.2018, the Corporate Debtor did not pay. The Operational Creditor issued a Demand Notice under Section 8 of
…Operational Creditor…
Operational Creditor…