Indiabulls Distribution Services Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Abode Developers Private Limited. Indiabulls claimed to have entered into an agreement with Xrbia Abode, acting as a marketing representative for Xrbia's real estate project. Indiabulls alleged that Xrbia Abode failed to pay an invoice of Rs. 1,67,662/- which was due since 30.09.2016. The counsel for the respondent raised questions regarding the maintainability of the petition, citing discrepancies in the amount of debt claimed and the date when the amount became due. The respondent also argued that there was a pre-existing dispute between the parties.
Indiabulls Distribution Services Ltd. (the Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Abode Developers Private Limited (the Respondent). The Petitioner claimed that the Respondent owed them Rs. 1,67,662/- based on an agreement dated 09.03.2016, where the Petitioner was appointed as a marketing representative for the Respondent's real estate project, "Xrbia Abode". The Petitioner issued an invoice for the said amount, which they claimed was due since 30.09.2016. The Respondent, however, raised objections, stating discrepancies in the amount of debt claimed, non-compliance with Section 9(3)(b) of IBC, and the existence of a pre-existing
…Sign in to view the parties.
The petitioner and respondent entered into…
The petitioner issued invoice amounting to…
Indiabulls Distribution Services Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Abode Developers Private Limited. Indiabulls claimed to have entered into an agreement with Xrbia Abode, acting as a marketing representative for Xrbia's real estate project. Indiabulls alleged that Xrbia Abode failed to pay an invoice of Rs. 1,67,662/- which was due since 30.09.2016. The counsel for the respondent raised questions regarding the maintainability of the petition, citing discrepancies in the amount of debt claimed and the date when the amount became due. The respondent also argued that there was a pre-existing dispute between the parties.
Indiabulls Distribution Services Ltd. (the Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Abode Developers Private Limited (the Respondent). The Petitioner claimed that the Respondent owed them Rs. 1,67,662/- based on an agreement dated 09.03.2016, where the Petitioner was appointed as a marketing representative for the Respondent's real estate project, "Xrbia Abode". The Petitioner issued an invoice for the said amount, which they claimed was due since 30.09.2016. The Respondent, however, raised objections, stating discrepancies in the amount of debt claimed, non-compliance with Section 9(3)(b) of IBC, and the existence of a pre-existing
…The petitioner and respondent entered into…
The petitioner issued invoice amounting to…