The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. Disha Communications Private Limited (Operational Creditor) against M/s. Sri Varadaraja Food Exports Private Limited (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 2,74,86,933/- arising from airtime advertisement services provided to the Corporate Debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
M/s. Disha Communications Private Limited (Operational Creditor) provided airtime advertisement services to M/s. Sri Varadaraja Food Exports Private Limited (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 2,74,86,933/- as of 22.03.2018. A Letter of Agreement dated 08.07.2016 stipulated that bills raised by the Operational Creditor were to be paid within 30 days, with objections to be made within 7 days of receipt. The Corporate Debtor defaulted on payments. The Operational Creditor issued a Notice of Termination dated 17.04.2019. A Demand Notice under Section 8 of the I&B Code was issued on 05.06.2019. The Operational Creditor filed an affidavit stating that no notice of dispute was received regarding the unpaid operational debt. The
…Sign in to view the parties.
Letter of Agreement between the Operational…
Operational debt of Rs.…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. Disha Communications Private Limited (Operational Creditor) against M/s. Sri Varadaraja Food Exports Private Limited (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 2,74,86,933/- arising from airtime advertisement services provided to the Corporate Debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
M/s. Disha Communications Private Limited (Operational Creditor) provided airtime advertisement services to M/s. Sri Varadaraja Food Exports Private Limited (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 2,74,86,933/- as of 22.03.2018. A Letter of Agreement dated 08.07.2016 stipulated that bills raised by the Operational Creditor were to be paid within 30 days, with objections to be made within 7 days of receipt. The Corporate Debtor defaulted on payments. The Operational Creditor issued a Notice of Termination dated 17.04.2019. A Demand Notice under Section 8 of the I&B Code was issued on 05.06.2019. The Operational Creditor filed an affidavit stating that no notice of dispute was received regarding the unpaid operational debt. The
…Letter of Agreement between the Operational…
Operational debt of Rs.…