Globe Forex & Travels Limited filed a petition against TC Express Hospitality Services Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code 2016. The petition was initially filed before the Bombay High Court and later transferred to the NCLT, Mumbai Bench, due to changes in the law. The petitioner, acting as an operational creditor, claimed an outstanding debt of ₹23,64,167 for hospitality services provided to the respondent. The respondent denied the debt.
Globe Forex & Travels Limited (the Petitioner) provided hospitality services to TC Express Hospitality Services Pvt. Ltd. (the Respondent). The Petitioner claimed an outstanding debt of ₹23,64,167. The debt arose from unpaid invoices for services provided between June 2015 and March 2016. The Petitioner initially filed a petition with the Bombay High Court under the Companies Act, 1956, which was later transferred to the NCLT, Mumbai Bench, due to changes in the law. The Petitioner furnished Form No.5 under Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016. The Respondent denied the debt. The Petitioner issued a notice under section 433/434 of the Companies Act, 1956, on 28.06.2016. The Respondent replied on 07.07.2016,
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Globe Forex & Travels Limited filed a petition against TC Express Hospitality Services Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code 2016. The petition was initially filed before the Bombay High Court and later transferred to the NCLT, Mumbai Bench, due to changes in the law. The petitioner, acting as an operational creditor, claimed an outstanding debt of ₹23,64,167 for hospitality services provided to the respondent. The respondent denied the debt.
Globe Forex & Travels Limited (the Petitioner) provided hospitality services to TC Express Hospitality Services Pvt. Ltd. (the Respondent). The Petitioner claimed an outstanding debt of ₹23,64,167. The debt arose from unpaid invoices for services provided between June 2015 and March 2016. The Petitioner initially filed a petition with the Bombay High Court under the Companies Act, 1956, which was later transferred to the NCLT, Mumbai Bench, due to changes in the law. The Petitioner furnished Form No.5 under Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016. The Respondent denied the debt. The Petitioner issued a notice under section 433/434 of the Companies Act, 1956, on 28.06.2016. The Respondent replied on 07.07.2016,
…A notice under section 433/434 of the…
A reply from the…