The case involves a dispute between Ice TV Private Limited (the Petitioner/Operational Creditor) and Sreedevi Digital Systems Private Limited (the Respondent/Corporate Debtor) regarding the supply of Digital Set Top Boxes (DSTBs). The Petitioner claims that the Respondent failed to pay the outstanding dues for the supplied DSTBs, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Respondent disputes the claim, alleging suppression and misrepresentation of material information, and contending that there is no debt to clear.
Ice TV Private Limited (Petitioner) is a registered company involved in establishing technical and cable networks. Sreedevi Digital Systems Private Limited (Respondent) is a private limited company engaged in trading electronic media and distributing satellite communication. In 2013-14, the Respondent approached the Petitioner to purchase 45,000 units of Digital Set Top Boxes (DSTBs) for its digital cable TV network. The agreed price was Rs. 1020 per DSTB before taxes. The Petitioner supplied the DSTBs between 2014-06-10 and 2014-08-22, raising invoices totaling Rs. 4,81,95,000. The Petitioner also incurred expenses of Rs. 1,28,81,798 towards Customs Duty. Between 2014-06-02 and 2015-10-30, the Respondent paid Rs. 3,15,56,500. Two Memorandum of Understandings (MoUs)
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Ice TV Private…
Sreedevi Digital…
The case involves a dispute between Ice TV Private Limited (the Petitioner/Operational Creditor) and Sreedevi Digital Systems Private Limited (the Respondent/Corporate Debtor) regarding the supply of Digital Set Top Boxes (DSTBs). The Petitioner claims that the Respondent failed to pay the outstanding dues for the supplied DSTBs, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Respondent disputes the claim, alleging suppression and misrepresentation of material information, and contending that there is no debt to clear.
Ice TV Private Limited (Petitioner) is a registered company involved in establishing technical and cable networks. Sreedevi Digital Systems Private Limited (Respondent) is a private limited company engaged in trading electronic media and distributing satellite communication. In 2013-14, the Respondent approached the Petitioner to purchase 45,000 units of Digital Set Top Boxes (DSTBs) for its digital cable TV network. The agreed price was Rs. 1020 per DSTB before taxes. The Petitioner supplied the DSTBs between 2014-06-10 and 2014-08-22, raising invoices totaling Rs. 4,81,95,000. The Petitioner also incurred expenses of Rs. 1,28,81,798 towards Customs Duty. Between 2014-06-02 and 2015-10-30, the Respondent paid Rs. 3,15,56,500. Two Memorandum of Understandings (MoUs)
…Ice TV Private…
Sreedevi Digital…