JBB Enterprises, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against YMS Mobitech Private Limited. The operational creditor claimed that YMS Mobitech defaulted on a debt of Rs. 1,88,86,429/-. The application included a demand notice in Form-3 and an affidavit stating that the corporate debtor had not given any notice regarding a dispute of the unpaid operational debt.
JBB Enterprises, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against YMS Mobitech Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was based on a default in payment of Rs. 1,88,86,429/-. JBB Enterprises complied with Section 8(1) of the Code by delivering a demand notice and an affidavit confirming no dispute notice from the corporate debtor. The corporate debtor, YMS Mobitech, through its advocate, filed a memo stating no objection to the appointment of an Interim Resolution Professional (IRP) due to financial difficulties. The company even passed a resolution dated 2017-10-12 regarding the matter. The NCLT found the petition complete under sections 8 & 9 of the IBC.
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YMS Mobitech Private…
NCLT Allahabad Bench…
JBB Enterprises, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against YMS Mobitech Private Limited. The operational creditor claimed that YMS Mobitech defaulted on a debt of Rs. 1,88,86,429/-. The application included a demand notice in Form-3 and an affidavit stating that the corporate debtor had not given any notice regarding a dispute of the unpaid operational debt.
JBB Enterprises, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against YMS Mobitech Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was based on a default in payment of Rs. 1,88,86,429/-. JBB Enterprises complied with Section 8(1) of the Code by delivering a demand notice and an affidavit confirming no dispute notice from the corporate debtor. The corporate debtor, YMS Mobitech, through its advocate, filed a memo stating no objection to the appointment of an Interim Resolution Professional (IRP) due to financial difficulties. The company even passed a resolution dated 2017-10-12 regarding the matter. The NCLT found the petition complete under sections 8 & 9 of the IBC.
YMS Mobitech Private…
NCLT Allahabad Bench…