The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ms. Juhi Ramakrishnan (Operational Creditor) against M/s. Push Integrated Communications Private Limited (Corporate Debtor). The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Corporate Debtor engaged the Operational Creditor to provide consultancy services on a month-to-month basis for a fixed professional fee. While initial payments were made, the Corporate Debtor allegedly failed to clear invoices from December 2016 onwards.
Ms. Juhi Ramakrishnan, the Operational Creditor, provided freelance consultancy services to M/s. Push Integrated Communications Private Limited, the Corporate Debtor. The Corporate Debtor engaged the Operational Creditor for consultancy services on a month-to-month basis, with a fixed professional fee of Rs. 2.10 Lakhs per month. The Corporate Debtor initially honored the agreement and made payments until November 2016. The Operational Creditor claimed an outstanding debt of Rs. 20,88,000 as of 31.08.2017. The Corporate Debtor failed to clear invoices raised by the Operational Creditor from December 2016 onwards. The Corporate Debtor communicated difficulties in making payments due to a frozen account on 26.12.2017 and later indicated insufficient funds on 12.01.2018.
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The Operational…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ms. Juhi Ramakrishnan (Operational Creditor) against M/s. Push Integrated Communications Private Limited (Corporate Debtor). The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Corporate Debtor engaged the Operational Creditor to provide consultancy services on a month-to-month basis for a fixed professional fee. While initial payments were made, the Corporate Debtor allegedly failed to clear invoices from December 2016 onwards.
Ms. Juhi Ramakrishnan, the Operational Creditor, provided freelance consultancy services to M/s. Push Integrated Communications Private Limited, the Corporate Debtor. The Corporate Debtor engaged the Operational Creditor for consultancy services on a month-to-month basis, with a fixed professional fee of Rs. 2.10 Lakhs per month. The Corporate Debtor initially honored the agreement and made payments until November 2016. The Operational Creditor claimed an outstanding debt of Rs. 20,88,000 as of 31.08.2017. The Corporate Debtor failed to clear invoices raised by the Operational Creditor from December 2016 onwards. The Corporate Debtor communicated difficulties in making payments due to a frozen account on 26.12.2017 and later indicated insufficient funds on 12.01.2018.
…The Operational…
The Operational Creditor…