The case involves a company petition filed by M/s. World 2 Meet S.L.U. (Operational Creditor) against M/s. Xenia Abode Services Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code 2016. The Operational Creditor provided database services to the Corporate Debtor for hotel and travel bookings. The Corporate Debtor allegedly defaulted on payments for these services, leading to the petition. The total debt due is Rs. 1,80,26,273, including principal and interest. The Corporate Debtor raised objections, claiming breach of agreements by the Petitioner, lack of contract for interest payment, and jurisdictional issues.
M/s. World 2 Meet S.L.U. (Operational Creditor) filed a company petition against M/s. Xenia Abode Services Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, due to unpaid operational debt. The Operational Creditor provided database services for hotel and travel bookings to the Corporate Debtor. The total debt due was Rs. 1,80,26,273, including principal (€187,747) and interest (€25,178). The Corporate Debtor made a security deposit of €10,000. The Corporate Debtor failed to make payments within the stipulated time, leading to 394 unpaid invoices from 21.11.2017 to 09.04.2018. The Petitioner informed the Corporate Debtor about adjusting the security deposit towards the oldest invoices, to which the Corporate Debtor agreed. A legal notice and demand
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The case involves a company petition filed by M/s. World 2 Meet S.L.U. (Operational Creditor) against M/s. Xenia Abode Services Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code 2016. The Operational Creditor provided database services to the Corporate Debtor for hotel and travel bookings. The Corporate Debtor allegedly defaulted on payments for these services, leading to the petition. The total debt due is Rs. 1,80,26,273, including principal and interest. The Corporate Debtor raised objections, claiming breach of agreements by the Petitioner, lack of contract for interest payment, and jurisdictional issues.
M/s. World 2 Meet S.L.U. (Operational Creditor) filed a company petition against M/s. Xenia Abode Services Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, due to unpaid operational debt. The Operational Creditor provided database services for hotel and travel bookings to the Corporate Debtor. The total debt due was Rs. 1,80,26,273, including principal (€187,747) and interest (€25,178). The Corporate Debtor made a security deposit of €10,000. The Corporate Debtor failed to make payments within the stipulated time, leading to 394 unpaid invoices from 21.11.2017 to 09.04.2018. The Petitioner informed the Corporate Debtor about adjusting the security deposit towards the oldest invoices, to which the Corporate Debtor agreed. A legal notice and demand
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