The case involves an application filed by Redbrics ITES India Private Limited (now known as Clicbrics Technologies Private Limited), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ansal Housing Limited, the Corporate Debtor. The Operational Creditor claimed a principal amount of Rs. 14,70,943.90/- was due for real estate brokering commission based on a Memorandum of Understanding (MOU) signed on 09.07.2018. The Corporate Debtor stopped making payments from October 2018. The Operational Creditor sent a demand notice on 27.03.2019, to which the Corporate Debtor replied on 09.04.2019.
Redbrics ITES India Private Limited (now Clicbrics Technologies Private Limited) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ansal Housing Limited. The claim was for Rs. 14,70,943.90/- due on 10.10.2018, for real estate brokering commission. A Memorandum of Understanding (MOU) was signed between the parties on 09.07.2018, proposing Redbrics as the exclusive real estate agent for Ansal Housing. Redbrics raised invoices, but Ansal Housing stopped payments from October 2018. Redbrics sent a demand notice on 27.03.2019, and Ansal Housing replied on 09.04.2019. Ansal Housing argued that Redbrics' existence was untraceable on the Ministry of Corporate Affairs website, the
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Memorandum of Understanding (MOU) signed…
Corporate Debtor…
The case involves an application filed by Redbrics ITES India Private Limited (now known as Clicbrics Technologies Private Limited), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ansal Housing Limited, the Corporate Debtor. The Operational Creditor claimed a principal amount of Rs. 14,70,943.90/- was due for real estate brokering commission based on a Memorandum of Understanding (MOU) signed on 09.07.2018. The Corporate Debtor stopped making payments from October 2018. The Operational Creditor sent a demand notice on 27.03.2019, to which the Corporate Debtor replied on 09.04.2019.
Redbrics ITES India Private Limited (now Clicbrics Technologies Private Limited) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ansal Housing Limited. The claim was for Rs. 14,70,943.90/- due on 10.10.2018, for real estate brokering commission. A Memorandum of Understanding (MOU) was signed between the parties on 09.07.2018, proposing Redbrics as the exclusive real estate agent for Ansal Housing. Redbrics raised invoices, but Ansal Housing stopped payments from October 2018. Redbrics sent a demand notice on 27.03.2019, and Ansal Housing replied on 09.04.2019. Ansal Housing argued that Redbrics' existence was untraceable on the Ministry of Corporate Affairs website, the
…Memorandum of Understanding (MOU) signed…
Corporate Debtor…