AMP Communications Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Southasian Digital Media and Entertainment Private Limited, the Corporate Debtor. The application was based on an alleged default in payment for services provided by the Operational Creditor to the Corporate Debtor, specifically related to communication strategy, digital strategy, social media strategy, advertising, conducting promotional activities, and procuring sponsorships for the Corporate Debtor's team 'The Bengaluru Tigers'. The Operational Creditor claimed that an 'Agreement for Service' dated 31.01.2018 was entered into between the parties, and
…AMP Communications Private Limited (Operational Creditor) provided services to Southasian Digital Media and Entertainment Private Limited (Corporate Debtor) related to communication, digital, and social media strategy, advertising, promotional activities, and sponsorships for 'The Bengaluru Tigers' team. An 'Agreement for Service' was signed on 31.01.2018. Two invoices were raised on 27.02.2018 (Rs. 2,06,500) and 29.03.2018 (Rs. 4,72,000), totaling Rs. 6,78,500. The Corporate Debtor failed to pay, leading the Operational Creditor to claim Rs. 8,66,255, including 12% p.a. interest until 16.10.2019. The Operational Creditor issued a Demand Notice under Section 8 of IBC on 10.09.2019 via email and 11.09.2019 via registered post, delivered on 13.09.2019. The Corporate
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Agreement for Service entered into between…
Invoice raised…
AMP Communications Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Southasian Digital Media and Entertainment Private Limited, the Corporate Debtor. The application was based on an alleged default in payment for services provided by the Operational Creditor to the Corporate Debtor, specifically related to communication strategy, digital strategy, social media strategy, advertising, conducting promotional activities, and procuring sponsorships for the Corporate Debtor's team 'The Bengaluru Tigers'. The Operational Creditor claimed that an 'Agreement for Service' dated 31.01.2018 was entered into between the parties, and
…AMP Communications Private Limited (Operational Creditor) provided services to Southasian Digital Media and Entertainment Private Limited (Corporate Debtor) related to communication, digital, and social media strategy, advertising, promotional activities, and sponsorships for 'The Bengaluru Tigers' team. An 'Agreement for Service' was signed on 31.01.2018. Two invoices were raised on 27.02.2018 (Rs. 2,06,500) and 29.03.2018 (Rs. 4,72,000), totaling Rs. 6,78,500. The Corporate Debtor failed to pay, leading the Operational Creditor to claim Rs. 8,66,255, including 12% p.a. interest until 16.10.2019. The Operational Creditor issued a Demand Notice under Section 8 of IBC on 10.09.2019 via email and 11.09.2019 via registered post, delivered on 13.09.2019. The Corporate
…Agreement for Service entered into between…
Invoice raised…