Star India Private Limited filed a petition against Maruthi Digitals Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a default in payment of Rs. 23,96,859/-. The debt arose from unpaid license fees for signals supplied under a Memorandum of Understanding and a Subscription License Agreement. The Operational Creditor issued a disconnection notice on 20.06.2016 due to the outstanding amount.
Star India Private Limited (Operational Creditor) filed a petition against Maruthi Digitals Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor defaulted on payments totaling Rs. 23,96,859/- for license fees. A Memorandum of Understanding (MOU) dated 28.12.2015, and a Subscription License Agreement dated 28.12.2015, governed the supply of signals. The MOU covered the period from 01.07.2015 to 31.12.2015, with a monthly subscription fee of Rs. 2,39,036.26. The MOU was amended on 01.12.2015 to increase the monthly subscription fee. The Subscription License Agreement covered the period from 01.01.2016 to 30.06.2016, with a fixed monthly license fee of Rs. 3,53,273/-. Due to non-payment, a disconnection
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Memorandum of Understanding between Star…
First Addendum to the Memorandum of…
Star India Private Limited filed a petition against Maruthi Digitals Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, due to a default in payment of Rs. 23,96,859/-. The debt arose from unpaid license fees for signals supplied under a Memorandum of Understanding and a Subscription License Agreement. The Operational Creditor issued a disconnection notice on 20.06.2016 due to the outstanding amount.
Star India Private Limited (Operational Creditor) filed a petition against Maruthi Digitals Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor defaulted on payments totaling Rs. 23,96,859/- for license fees. A Memorandum of Understanding (MOU) dated 28.12.2015, and a Subscription License Agreement dated 28.12.2015, governed the supply of signals. The MOU covered the period from 01.07.2015 to 31.12.2015, with a monthly subscription fee of Rs. 2,39,036.26. The MOU was amended on 01.12.2015 to increase the monthly subscription fee. The Subscription License Agreement covered the period from 01.01.2016 to 30.06.2016, with a fixed monthly license fee of Rs. 3,53,273/-. Due to non-payment, a disconnection
…Memorandum of Understanding between Star…
First Addendum to the Memorandum of…