The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Jones Lang Lasalle Building Operations Private Limited (Operational Creditor) against Sare Facility (Gurgaon) Services Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor provided property management services to the Corporate Debtor based on a Property Management Service Agreement and a subsequent Letter of Intent (LOI). Disputes arose due to non-payment of invoices raised by the Operational Creditor for services rendered.
Jones Lang Lasalle Building Operations Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sare Facility (Gurgaon) Services Private Limited (Corporate Debtor). The Operational Creditor and Corporate Debtor entered into a Property Management Service Agreement dated 01.10.2015, which was renewed through addendums and a Letter of Intent (LOI) dated 27.03.2018. The Operational Creditor provided property management services to the Corporate Debtor. The Operational Creditor raised invoices for Rs 1,55,79,348/- for services rendered between 10.10.2018 and 26.06.2019. The Corporate Debtor paid a partial amount of Rs.6,61,598/- on 18.03.2019. The Operational Creditor issued a demand notice under
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The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Jones Lang Lasalle Building Operations Private Limited (Operational Creditor) against Sare Facility (Gurgaon) Services Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor provided property management services to the Corporate Debtor based on a Property Management Service Agreement and a subsequent Letter of Intent (LOI). Disputes arose due to non-payment of invoices raised by the Operational Creditor for services rendered.
Jones Lang Lasalle Building Operations Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sare Facility (Gurgaon) Services Private Limited (Corporate Debtor). The Operational Creditor and Corporate Debtor entered into a Property Management Service Agreement dated 01.10.2015, which was renewed through addendums and a Letter of Intent (LOI) dated 27.03.2018. The Operational Creditor provided property management services to the Corporate Debtor. The Operational Creditor raised invoices for Rs 1,55,79,348/- for services rendered between 10.10.2018 and 26.06.2019. The Corporate Debtor paid a partial amount of Rs.6,61,598/- on 18.03.2019. The Operational Creditor issued a demand notice under
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Parties executed a…