The case involves a Company Petition filed by Global Advertisers (Operational Creditor) under Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor failed to make an outstanding payment of Rs.1,98,47,220/- along with interest. The Corporate Debtor is a real estate agent company, and the Operational Creditor provided hoarding advertisement services. Disputes arose regarding the amount due, the quality of services, and the need for reconciliation of accounts.
Global Advertisers (Operational Creditor) filed a petition against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor) for outstanding dues of Rs. 1,98,47,220/- plus interest. The Operational Creditor provided hoarding advertisement services to the Corporate Debtor. 30 invoices were raised from 2017-03-10 to 2019-06-29, totaling Rs. 4,74,55,683/-, with part payments of Rs. 2,72,02,520/- made and TDS of Rs. 3,96,540/- deducted. The Corporate Debtor issued 20 post-dated cheques of Rs. 5,00,000/- each, out of which 10 were honored, 2 were dishonored, and 8 were returned. The Corporate Debtor claimed payments were to be made on a 'payable when able' basis and requested reconciliation of accounts. The Operational Creditor issued a demand notice on 2020-06-12. The
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The case involves a Company Petition filed by Global Advertisers (Operational Creditor) under Section 8 & 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor). The Operational Creditor claims that the Corporate Debtor failed to make an outstanding payment of Rs.1,98,47,220/- along with interest. The Corporate Debtor is a real estate agent company, and the Operational Creditor provided hoarding advertisement services. Disputes arose regarding the amount due, the quality of services, and the need for reconciliation of accounts.
Global Advertisers (Operational Creditor) filed a petition against Sai Estate Consultants Chembur Pvt. Ltd. (Corporate Debtor) for outstanding dues of Rs. 1,98,47,220/- plus interest. The Operational Creditor provided hoarding advertisement services to the Corporate Debtor. 30 invoices were raised from 2017-03-10 to 2019-06-29, totaling Rs. 4,74,55,683/-, with part payments of Rs. 2,72,02,520/- made and TDS of Rs. 3,96,540/- deducted. The Corporate Debtor issued 20 post-dated cheques of Rs. 5,00,000/- each, out of which 10 were honored, 2 were dishonored, and 8 were returned. The Corporate Debtor claimed payments were to be made on a 'payable when able' basis and requested reconciliation of accounts. The Operational Creditor issued a demand notice on 2020-06-12. The
…First invoice r…
Last invoice r…