Cushman & Wakefield India Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Sharan Hospitality Private Limited, the Corporate Debtor, for failing to pay for construction-related services and advisory provided based on a fee agreement dated 29.11.2017. The Operational Creditor raised an invoice dated 30.11.2017 for Rs.61,36,000/-, which remained unpaid. The petition was filed on 24.10.2018.
Cushman & Wakefield India Private Limited (Operational Creditor) provided construction-related services and advisory to Sharan Hospitality Private Limited (Corporate Debtor) based on a fee agreement dated 29.11.2017. An invoice dated 30.11.2017 for Rs.61,36,000/- was raised but remained unpaid. The Operational Creditor sent a demand notice dated 05.07.2018 demanding repayment of Rs. 67,26,065/- (including interest). The Corporate Debtor, in its reply dated 16.07.2018, cited procedural issues and lack of documents as reasons for non-payment, which the Operational Creditor refuted. The Corporate Debtor requested more time to pay via email dated 21.08.2018, acknowledging the debt. The Operational Creditor filed a petition on 24.10.2018 under Section 9 of the I&B
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Fee agreement between…
Operational Creditor…
Cushman & Wakefield India Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Sharan Hospitality Private Limited, the Corporate Debtor, for failing to pay for construction-related services and advisory provided based on a fee agreement dated 29.11.2017. The Operational Creditor raised an invoice dated 30.11.2017 for Rs.61,36,000/-, which remained unpaid. The petition was filed on 24.10.2018.
Cushman & Wakefield India Private Limited (Operational Creditor) provided construction-related services and advisory to Sharan Hospitality Private Limited (Corporate Debtor) based on a fee agreement dated 29.11.2017. An invoice dated 30.11.2017 for Rs.61,36,000/- was raised but remained unpaid. The Operational Creditor sent a demand notice dated 05.07.2018 demanding repayment of Rs. 67,26,065/- (including interest). The Corporate Debtor, in its reply dated 16.07.2018, cited procedural issues and lack of documents as reasons for non-payment, which the Operational Creditor refuted. The Corporate Debtor requested more time to pay via email dated 21.08.2018, acknowledging the debt. The Operational Creditor filed a petition on 24.10.2018 under Section 9 of the I&B
…Fee agreement between…
Operational Creditor…