The case involves a petition filed by Dheemahi Productions, the Operational Creditor (OC), against Annapurna Broadcasting Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) due to the CD's failure to discharge a debt of Rs.1,15,00,000/-. The OC and CD entered into a Memorandum of Understanding (MoU) where the OC was to supply electronic and electrical equipment for the CD's TV channel, AP 24x7. The CD acknowledged the debt but failed to make payments despite requests.
Dheemahi Productions (Operational Creditor) filed a petition against Annapurna Broadcasting Private Limited (Corporate Debtor) to initiate CIRP for a debt of Rs.1,15,00,000/-. The debt arose from a Memorandum of Understanding (MoU) where Dheemahi Productions supplied electronic and electrical equipment to Annapurna Broadcasting for their TV channel, AP 24x7. The equipment included items for live coverage, pre and post production, and digital content uploading. The CD acknowledged the debt in a reply to a demand notice but failed to make payments, citing delays in revenue generation and seeking more time. The CD proposed quarterly installments with a moratorium period. The OC supplied the material, which was acknowledged by the CD. The CD filed a counter, acknowledging
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Memorandum of Understanding (MoU) entered…
The CD offered to pay the consideration in…
The case involves a petition filed by Dheemahi Productions, the Operational Creditor (OC), against Annapurna Broadcasting Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) due to the CD's failure to discharge a debt of Rs.1,15,00,000/-. The OC and CD entered into a Memorandum of Understanding (MoU) where the OC was to supply electronic and electrical equipment for the CD's TV channel, AP 24x7. The CD acknowledged the debt but failed to make payments despite requests.
Dheemahi Productions (Operational Creditor) filed a petition against Annapurna Broadcasting Private Limited (Corporate Debtor) to initiate CIRP for a debt of Rs.1,15,00,000/-. The debt arose from a Memorandum of Understanding (MoU) where Dheemahi Productions supplied electronic and electrical equipment to Annapurna Broadcasting for their TV channel, AP 24x7. The equipment included items for live coverage, pre and post production, and digital content uploading. The CD acknowledged the debt in a reply to a demand notice but failed to make payments, citing delays in revenue generation and seeking more time. The CD proposed quarterly installments with a moratorium period. The OC supplied the material, which was acknowledged by the CD. The CD filed a counter, acknowledging
…Memorandum of Understanding (MoU) entered…
The CD offered to pay the consideration in…