M/s Beetel Teletech Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against M/s. Arcelia IT Services Private Limited, the respondent. The applicant claimed default on an invoice dated 31.12.2019. The respondent raised objections, including that the applicant was not an operational creditor, that the person filing the application was not properly authorized, and that the applicant made a partial delivery of the consignment. The respondent also argued that the debt was below the minimum threshold of Rs. 1 crore if part payments were properly adjusted.
M/s Beetel Teletech Limited (Operational Creditor) filed a petition against M/s. Arcelia IT Services Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, seeking to initiate CIRP. The operational creditor and corporate debtor had a Channel Partner Registration Form executed on 07.10.2019. The corporate debtor issued a purchase order (AISPL/19-20/PO-032 dated 25.10.2019) to the operational creditor, who then supplied goods and services, raising invoice RV1927813879 dated 31.12.2019 for Rs. 1,32,45,904.84. The invoice was due for payment on 29.02.2020. The corporate debtor made part payments, including Rs. 42,50,000 on 23.09.2020, Rs. 17,74,910 on 19.12.2020, and Rs. 1,00,000 on 25.03.2021. A cheque issued by the corporate debtor was dishonored. The
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M/s Beetel Teletech Limited, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against M/s. Arcelia IT Services Private Limited, the respondent. The applicant claimed default on an invoice dated 31.12.2019. The respondent raised objections, including that the applicant was not an operational creditor, that the person filing the application was not properly authorized, and that the applicant made a partial delivery of the consignment. The respondent also argued that the debt was below the minimum threshold of Rs. 1 crore if part payments were properly adjusted.
M/s Beetel Teletech Limited (Operational Creditor) filed a petition against M/s. Arcelia IT Services Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016, seeking to initiate CIRP. The operational creditor and corporate debtor had a Channel Partner Registration Form executed on 07.10.2019. The corporate debtor issued a purchase order (AISPL/19-20/PO-032 dated 25.10.2019) to the operational creditor, who then supplied goods and services, raising invoice RV1927813879 dated 31.12.2019 for Rs. 1,32,45,904.84. The invoice was due for payment on 29.02.2020. The corporate debtor made part payments, including Rs. 42,50,000 on 23.09.2020, Rs. 17,74,910 on 19.12.2020, and Rs. 1,00,000 on 25.03.2021. A cheque issued by the corporate debtor was dishonored. The
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