The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Jones Lang Lasalle Building Operations Private Limited (the Applicant/Operational Creditor) to initiate the Corporate Insolvency Resolution Process (CIRP) against Sare Facility (OMR) Services Private Limited (the Corporate Debtor). The applicant provided property management services to the corporate debtor under a Property Management Service Agreement dated 31.08.2018. The applicant claimed that the corporate debtor defaulted in payment of invoices raised for services rendered from September 2018 to June 2019, leading to an outstanding debt of Rs. 52,75,559/-.
Jones Lang Lasalle Building Operations Private Limited (the 'Applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate the Corporate Insolvency Resolution Process ('CIRP') against Sare Facility (OMR) Services Private Limited (the 'Corporate Debtor'). The Applicant and the Corporate Debtor entered into a Property Management Service Agreement dated 31.08.2018, under which the Applicant provided property management services at the Corporate Debtor's site, Crescent Parc Dewy Terraces. The Applicant raised monthly invoices for services rendered from September 2018 to June 2019. The Corporate Debtor allegedly failed to make payment of various invoices, resulting in a total unpaid debt of Rs. 52,75,559/-. The Applicant
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Jones Lang Lasalle Building Operations Private Limited (the Applicant/Operational Creditor) to initiate the Corporate Insolvency Resolution Process (CIRP) against Sare Facility (OMR) Services Private Limited (the Corporate Debtor). The applicant provided property management services to the corporate debtor under a Property Management Service Agreement dated 31.08.2018. The applicant claimed that the corporate debtor defaulted in payment of invoices raised for services rendered from September 2018 to June 2019, leading to an outstanding debt of Rs. 52,75,559/-.
Jones Lang Lasalle Building Operations Private Limited (the 'Applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate the Corporate Insolvency Resolution Process ('CIRP') against Sare Facility (OMR) Services Private Limited (the 'Corporate Debtor'). The Applicant and the Corporate Debtor entered into a Property Management Service Agreement dated 31.08.2018, under which the Applicant provided property management services at the Corporate Debtor's site, Crescent Parc Dewy Terraces. The Applicant raised monthly invoices for services rendered from September 2018 to June 2019. The Corporate Debtor allegedly failed to make payment of various invoices, resulting in a total unpaid debt of Rs. 52,75,559/-. The Applicant
…Execution of Property Management Service…
Start of the period for…