This is a Company Petition filed under section 9 of the Insolvency & Bankruptcy Code, 2016 ("IBC") by ISS Facility Private Limited ("the Operational Creditor") seeking to initiate Corporate Insolvency Resolution Process ("CIRP") against Qing Ambay City Developers Corporation Limited ("the Corporate Debtor"). The Operational Creditor and the Corporate Debtor entered into a contract dated 07.10.2017, whereby the Operational Creditor entered housekeeping services to the Corporate Debtor. A total of fifty-nine invoices were raised on the Corporate Debtor from time to time. The invoices were payable within thirty days from the date of receipt of each invoice. The Operational Creditor had served a Demand Notice in Form 3 dated
…ISS Facility Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Qing Ambay City Developers Corporation Limited, the Corporate Debtor. The basis of the petition was the Corporate Debtor's failure to pay a sum of ₹7,11,76,227.00 as principal and ₹2,66,92,698.51 as interest as on 21.12.2018, totaling ₹9,78,68,925.51. The Operational Creditor and the Corporate Debtor had entered into a contract on 07.10.2017, where the Operational Creditor provided housekeeping services. The Corporate Debtor acknowledged the debt in a letter dated 19.12.2018. However, the Corporate Debtor argued that the invoices were pertaining to the period 2015, which
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This is a Company Petition filed under section 9 of the Insolvency & Bankruptcy Code, 2016 ("IBC") by ISS Facility Private Limited ("the Operational Creditor") seeking to initiate Corporate Insolvency Resolution Process ("CIRP") against Qing Ambay City Developers Corporation Limited ("the Corporate Debtor"). The Operational Creditor and the Corporate Debtor entered into a contract dated 07.10.2017, whereby the Operational Creditor entered housekeeping services to the Corporate Debtor. A total of fifty-nine invoices were raised on the Corporate Debtor from time to time. The invoices were payable within thirty days from the date of receipt of each invoice. The Operational Creditor had served a Demand Notice in Form 3 dated
…ISS Facility Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Qing Ambay City Developers Corporation Limited, the Corporate Debtor. The basis of the petition was the Corporate Debtor's failure to pay a sum of ₹7,11,76,227.00 as principal and ₹2,66,92,698.51 as interest as on 21.12.2018, totaling ₹9,78,68,925.51. The Operational Creditor and the Corporate Debtor had entered into a contract on 07.10.2017, where the Operational Creditor provided housekeeping services. The Corporate Debtor acknowledged the debt in a letter dated 19.12.2018. However, the Corporate Debtor argued that the invoices were pertaining to the period 2015, which
…The Operational Creditor and the…
The Corporate Debtor…