The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Mr. Kamaljeet Bhatti, proprietor of M/s Planet Mobi (Operational Creditor), against M/s Realdream Digital Private Limited (Corporate Debtor). The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid operational debt.
M/s Planet Mobi (Operational Creditor) provided digital advertisement services to M/s Realdream Digital Private Limited (Corporate Debtor). The Corporate Debtor placed orders through emails for publishing digital advertisements and mobile advertisement campaigns for its clients. The Operational Creditor raised invoices totaling Rs. 22,58,284/-, out of which the Corporate Debtor paid Rs. 14,10,076/-. The Corporate Debtor also deducted and deposited TDS of INR 39,274. A balance of Rs. 808,934/- remained due. The Operational Creditor issued a recovery notice on 23.12.2017 and a demand notice on 13.03.2018 under Section 8 of the IBC, 2016. The Corporate Debtor did not reply to either notice or make any payment. The Operational Creditor filed an affidavit affirming that
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Operational Creditor…
The default o…
The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Mr. Kamaljeet Bhatti, proprietor of M/s Planet Mobi (Operational Creditor), against M/s Realdream Digital Private Limited (Corporate Debtor). The Operational Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to unpaid operational debt.
M/s Planet Mobi (Operational Creditor) provided digital advertisement services to M/s Realdream Digital Private Limited (Corporate Debtor). The Corporate Debtor placed orders through emails for publishing digital advertisements and mobile advertisement campaigns for its clients. The Operational Creditor raised invoices totaling Rs. 22,58,284/-, out of which the Corporate Debtor paid Rs. 14,10,076/-. The Corporate Debtor also deducted and deposited TDS of INR 39,274. A balance of Rs. 808,934/- remained due. The Operational Creditor issued a recovery notice on 23.12.2017 and a demand notice on 13.03.2018 under Section 8 of the IBC, 2016. The Corporate Debtor did not reply to either notice or make any payment. The Operational Creditor filed an affidavit affirming that
…Operational Creditor…
The default o…