The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Khard Enterprises, an operational creditor, against Ramnath Developers Pvt. Ltd, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor provided facility management services to the corporate debtor's township, Ramnath City, based on an agreement dated 28.01.2018. The corporate debtor allegedly defaulted on payments for invoices raised for the financial year 2018-2019, amounting to Rs. 12,24,000. A demand notice was issued on 05.08.2019, demanding a total sum of Rs. 13,40,397, which was received by the respondent, but no payment or reply was made.
Khard Enterprises, the operational creditor, provided facility management services to Ramnath Developers Pvt. Ltd, the corporate debtor, at their township, Ramnath City, under an agreement dated 2018-01-28. The operational creditor raised invoices for each quarter ending for the financial year 2018-2019, totaling Rs. 12,24,000, which the corporate debtor failed to pay. A demand notice under Section 8 of the IBC, 2016, was issued on 2019-08-05, demanding Rs. 13,40,397, and was received by the corporate debtor, but no payment or reply was made. The corporate debtor admitted to the liability but claimed inability to pay due to financial crunch. The operational creditor filed a petition under Section 9 of the IBC, 2016, for initiation of CIRP. The Adjudicating Authority
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Agreement for facility management services…
Invoices raised for…
The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Khard Enterprises, an operational creditor, against Ramnath Developers Pvt. Ltd, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The operational creditor provided facility management services to the corporate debtor's township, Ramnath City, based on an agreement dated 28.01.2018. The corporate debtor allegedly defaulted on payments for invoices raised for the financial year 2018-2019, amounting to Rs. 12,24,000. A demand notice was issued on 05.08.2019, demanding a total sum of Rs. 13,40,397, which was received by the respondent, but no payment or reply was made.
Khard Enterprises, the operational creditor, provided facility management services to Ramnath Developers Pvt. Ltd, the corporate debtor, at their township, Ramnath City, under an agreement dated 2018-01-28. The operational creditor raised invoices for each quarter ending for the financial year 2018-2019, totaling Rs. 12,24,000, which the corporate debtor failed to pay. A demand notice under Section 8 of the IBC, 2016, was issued on 2019-08-05, demanding Rs. 13,40,397, and was received by the corporate debtor, but no payment or reply was made. The corporate debtor admitted to the liability but claimed inability to pay due to financial crunch. The operational creditor filed a petition under Section 9 of the IBC, 2016, for initiation of CIRP. The Adjudicating Authority
…Agreement for facility management services…
Invoices raised for…